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TIP #2. Don’t Automatically Use the Builder’s Lender


Builders’ like to be fully informed of all aspects of the sale, from construction to the buyers lending so using the builder’s lender allows the builder to be fully informed. However, the terms of the builder’s lender may not be the best terms for you.

  • Shop for your lender. You may find that most lenders offer you similar terms however, similarity in terms may be the only thing that they have in common.  You need to be able to trust your lender and be comfortable working with them on your home purchase.  Procuring a home loan can be an arduous task and having a great relationship with your loan officer is essential.
  • Ask your Realtor to recommend several lenders that they have worked with and found to be exceptional.
  • Be proactive in the purchase process and obtain your own credit report before you start shopping. You can obtain a free credit report from
  • Don’t sign a purchase contract without first seeing a Good Faith Estimate (GFE) from the lender.  It is required by law that the lender provides you with this documentation.  The GFE lists basic information about the terms of the mortgage loan that you have applied for.