"Ask Mac About Mortgages"

Most often,  there are attractive mortgage loan incentives from the home builders through their preferred lender. The builder incentives can be provided in builder upgrades or applied to your closing costs.  It depends on the builder, market, location, and price. Usually, the incentives are 2 to 3 percent of the home base price. It is next to impossible for a competing bank or mortgage lender to match these incentives because the builder covers the costs.  There are many advantages to both the buyer and the builder for using their preferred lender too. The benefit for the builder is your home purchase closes on time with their preferred lender. The builder can pay their subcontractors and continue with the project schedule. The buyer benefits because they have less risk of occurring fees and penalties for not closing on time with their lender.  An on-time close is most important in new construction sales. You have signed a performance contract and are required to clo...