By Jeff Gomez
Before you look at model homes, meet with sales agents, or even browse online, it is important to know whether you are ready for the financial commitment of building a home. There are three periods during the building process that will ultimately end up costing you a significant chunk of change. The first is your earnest money to lock up the lot, and to show that you are serious about building. The second is the construction deposit. This usually comes after the design process and before construction begins. The final large transactions will be at closing and are called the down payment and closing costs.
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...