When ever I’m working with a home buyer who may be considering new construction, I know I might lose them to the builder’s in house lender. Often times the builder will offer an enticing credit to the buyer’s closing costs only if they obtain their financing from the builder’s preferred lender.
How can having a Loan Originator (in this case, they are a retail sales mortgage person, or what ever Jillayne refers to them as 🙂 since they wait to be fed from the builder, often sitting at the construction site) who’s livelihood is supported by the Seller (i.e. the Builder) be in the Buyer’s best interest? Who is looking out for whom? How do you know the Loan Originator will not disclose the Buyer’s private information to the Builder if pressed?
Enough of my questions…here are some of my recent dealings with the Builder credit when working with the preferred lender.
UPDATE 12/12/2018: Unfortunately, it looks like part of the this original post is missing.