We had a similar experience, actually. The builder's lender initially seemed like the path of least resistance—everything neatly packaged, promises of convenience, etc. But once we started digging into the details, it felt like they had a pretty rigid box they wanted us to fit into. We asked about adjusting the closing date by just a week or two, and they acted like it was a huge hassle. It wasn't even a big ask, just a minor tweak to line up better with our moving schedule.
We ended up chatting with a local credit union instead, and they seemed much more open to customizing things. They took the time to explain different options and even suggested a couple of things we hadn't thought of—like adjusting the payment schedule slightly to align better with our income flow. Sure, it meant a bit more back-and-forth, but honestly, it felt worth it when we realized how much we'd save over the long haul.
One thing I'm curious about, though—do you think local lenders are generally more flexible because they're smaller and can make quicker decisions, or is it more about them wanting to build relationships in the community? I wonder if bigger lenders just don't have that same incentive to customize their terms...
I've had experiences with both local lenders and bigger banks, and honestly, I'm not sure flexibility always comes down to size or community ties. Sometimes it's just about the individual loan officer you're dealing with. I once worked with a big national bank, and the person handling our loan was surprisingly accommodating—she went out of her way to adjust dates and even helped us restructure things to save money. On the flip side, I've dealt with a smaller local lender who was pretty rigid, sticking strictly to their standard terms.
Maybe it's less about the lender's size or community presence and more about their internal policies or even the specific person you're working with? It could also depend on how busy they are at the time—if they're swamped, they might be less willing to customize things. Just something to consider before assuming local always equals flexible...
That's a good point about it often coming down to the individual loan officer. I've seen similar things happen—worked with a small lender once who was super flexible, but another time they were as rigid as could be. Internal policies definitely matter, but sometimes it's just about finding someone who's genuinely invested in helping you navigate the process. Might be worth chatting briefly with a few different lenders to get a feel for their approach before committing...
Have you checked if the builder's lender offers any specific incentives tied to your build? Sometimes they'll throw in closing cost credits or rate discounts that can tip the scales in their favor. But even then, it's worth asking yourself: do those perks outweigh potentially better service or lower rates elsewhere? I've seen situations where the convenience factor is huge, but other times shopping around saved thousands. Maybe crunch some numbers first and see how much those incentives really matter in your case...
Builder incentives can be appealing, sure, but watch out for hidden fees or less competitive terms buried in the fine print. I almost bit on a lender incentive once until I realized their rate-lock policy was pretty restrictive compared to others... careful analysis pays off.
