We went through something similar a couple years back and ended up switching lenders after construction, mostly because we found a lender who offered some solid incentives for energy-efficient homes. But yeah, I'll admit—it was definitely more paperwork and hassle than we initially thought. We joked at the time that we probably killed a small forest with all the documents flying back and forth (kinda ironic, given the whole "green building" thing, right?).
I think it really boils down to how much you're saving. For us, the difference was noticeable enough to justify the extra legwork. Plus, we were pretty motivated by the idea of working with a lender who actually understood green building practices and could offer some tailored incentives. But if your builder's lender already gave you a decent rate, and the savings aren't huge, then yeah... totally understandable to just stick with what you've got.
One thing I will say though—if anyone out there is considering switching lenders post-construction, definitely ask around about green mortgage options or energy efficiency incentives. Some lenders offer reduced rates or even cashback for homes that meet certain sustainability standards. It might make the hassle feel more worthwhile (at least it did for us).
Did anyone else here specifically look into green lending options, or was it mostly just about rates and convenience? Curious how many folks even know that's an option...
We looked into green lending briefly, but honestly, the savings weren't enough to sway us from our builder's lender. Still, good on you for navigating all that paperwork... definitely takes patience and determination.
"Still, good on you for navigating all that paperwork... definitely takes patience and determination."
Yeah, the paperwork maze is no joke. When we built our place, I remember spending evenings buried in lender comparisons and fine print—felt like homework all over again. Did you find the builder's lender more flexible overall, or was it just simpler to stick with them? We ended up shopping around mostly out of curiosity, but honestly, convenience won out in the end. Sometimes sanity's worth more than a few bucks saved...
We went through something similar when we built ours a few years back. Honestly, builder lenders usually win on convenience, but I found shopping around worth the hassle—ended up saving quite a bit on interest rates. Sure, sanity matters, but locking yourself into a higher rate just for convenience can sting later. I'd say at least get one or two outside quotes to keep your builder's lender honest... you might be surprised how quickly they suddenly become more flexible once competition enters the picture.
We had a similar experience when we finished our build last year. At first, the builder's lender seemed like the easiest choice—everything was streamlined, paperwork was minimal, and they made it sound like going elsewhere would be a huge headache. But something just didn't sit right with me about their rates, so I decided to poke around a bit.
Honestly, it wasn't as bad as I expected. Yeah, there was some extra paperwork and a few more phone calls than I'd have liked (ugh), but in the end, we found a local credit union that offered us a significantly better rate. When I brought that back to our builder's lender, suddenly they were able to "match" it—funny how that works, huh?
In the end, we actually stuck with the outside lender anyway because they'd been upfront from the start and I appreciated their transparency. Plus, saving money on interest meant we could put more into furnishing and landscaping—things that actually made our new house feel like home.
I totally get prioritizing convenience though... building is stressful enough without adding extra hoops to jump through. But if you have even a little bit of wiggle room in your timeline or patience level, I'd say it's worth at least checking out one or two other options. You never know what kind of savings you might uncover until you ask around a bit.
Good luck with whatever you decide—either way, congrats on finishing your build! It's such an exciting (and exhausting) milestone.
