It did mean more paperwork and some back-and-forth emails, but looking back, I'm glad I didn't just go with the easy option. Definitely worth exploring your options before committing.
Interesting...did you find the credit union was flexible with customizing terms, or were their better rates mostly set packages? When I shopped around, it felt like smaller lenders were more open to tweaking things, but maybe that was just my experience.
When I went with my credit union, they were pretty open to customizing terms, but it wasn't exactly a free-for-all. They had some flexibility on things like payment schedules and loan durations, but the interest rates themselves were mostly set packages. Still, I found that even small tweaks in the repayment timeline made a noticeable difference in monthly budgeting. Definitely worth asking about specifics—sometimes just shifting a few months here or there can really ease the financial pressure...
I had a similar experience when we were finalizing our custom build. The builder's lender offered a decent rate, but when I started poking around at local banks, I found some surprising flexibility. One smaller bank let us push payments out a bit further than standard, which helped a ton during those first few months of settling in (and buying furniture... ouch). Interest rates weren't wildly different, but those little adjustments in timing made the stress levels way more manageable. Definitely worth shopping around even if you're skeptical it'll make a difference.
That's a fair point, but I'd be careful about getting too caught up in payment flexibility alone. From my experience, smaller banks sometimes have tighter restrictions on things like early payoff penalties or refinancing later on. Had a project recently where the builder's lender wasn't the cheapest upfront, but their terms gave us more breathing room down the road when we needed to refinance. Definitely worth considering both short-term relief and long-term flexibility before jumping ship.
"Definitely worth considering both short-term relief and long-term flexibility before jumping ship."
Good point about balancing short-term vs long-term. Curious though, did anyone here factor in sustainability incentives or green financing options when deciding on lenders? I recently heard some banks offer better rates or perks if your build meets certain eco-friendly standards—wondering if that's something worth exploring before settling on a lender...
