By Jeff Gomez, VP of Sales at Vesta Homes
Lots of people here are asking how the 2017 hurricanes in the South will affect builders and home prices in Utah. Our buyers are concerned about it and one of our lenders decided to pass on funding a project for us until he could assess better what the impact from all this is going to be. It certainly adds a degree of uncertainty to the housing market going into 2018, so we’ll try to make some predictions in this blog post.
Once they’ve chosen a builder, many prospective buyers are advised to use a lender for their mortgage that the builder has pre-selected. Often there are certain incentives that go along with using a builder’s preferred lender.
So why do builders have preferred lenders? Some think this is just a chummy relationship that the builder gets a kickback on. The reality is that builders have learned from hard experiences that some lenders really are better to work with than others.
At Vesta Homes we call our preferred lenders “Expert Lenders” and hopefully this helps explain why we prefer them. We don’t receive any benefit from our buyers using our Expert Lenders other than the peace of mind that comes with knowing that our buyers are in good hands and that the closing and home transfer process will be very painless and stress-free.
In our experience, Expert Lenders...