Builder Financing

The use of builder financing may not be your best option.

When buying a new home, most people use the preferred lender of the builder. Builder’s often offer incentives to get you to use their preferred lender. The article below points out that buyers should shop around. It might make more sense to use an outside lender.

“To make sure you're getting a good deal, ask the builder not only for the mortgage rate, but also for details on closing costs, points, any fees that will be paid to the lender or third parties, and the terms of the loan. Prof. Guttentag advises comparing that offer to a quote for the same mortgage obtained on the same day from an online lender. He also suggests shopping for financing at the same time you look at houses.”

Read the whole article here.

Platinum Realty Network
www.jimgruler.com