Benefits of Using Your Builder’s Trusted Lender

When buying a new home, we know it’s important to you - the homebuyer - to secure the best loan rates. One of the ways to do that is to work with the homebuilder’s trusted lender. A trusted lender is a mortgage company that partners with a residential home builder. That lender can be a credit union, bank, online lender, or an in-house part of the homebuilder’s company. Homebuilders often work with trusted lenders for several reasons:

• It increases the convenience factor for their buyers - many of whom will end up needing a mortgage loan to purchase a home.
• They have a tried and true relationship with their trusted lender based on a history of integrity, trust, and customer experience.
• It allows the homebuyer (you) more control over the home buying process. For example, a builder’s trusted lender might be able to secure a loan more quickly.

So how does working with the builder’s trusted lender benefit you? Here’s a list of the top three benefits of using your builder’s trusted lender!

They’ll Save You Money

One of the key benefits of working with a trusted lender is that they’ll save you money. Not only will they offer a full range of financing, expert mortgage counseling, and competitive rates, but they’re also able to extend special incentives. This usually comes from the homebuilder in the form of credits for closing costs. It’s important to note here that federal law prohibits lenders from paying sellers for business referrals. This means the relationship between a builder and a trusted lender is built on trust and a history of working well together. Better communication between the home builder and trusted lender means that you will also save time and experience a smoother closing.

Higher Loan Approval Rate

Working with a builder's trusted lender typically means a higher approval rate. Homebuilders, like ourselves, create partnerships with premier lenders that are able to work with homebuyers with all credit profiles. They have the tools to provide solutions to potential buyers with troubled credit or past debt. The trusted lender is familiar with the builder, sales staff, policies, and requirements, allowing quick and accurate answers to your questions. As a result, a trusted lender will keep you up-to-date and provide a faster, less complicated loan process.