"Definitely recommend at least getting a few quotes from outside lenders."
Completely agree—did exactly that myself. One thing I'd add: pay close attention to fees and points, not just the interest rate. Builder's lenders sometimes sneak in extra costs buried in the fine print... learned this the hard way.
learned this the hard way.
Good point about the hidden fees—those can really add up. When I refinanced last year, the builder's lender offered a tempting rate, but their closing costs were way higher than expected. Ended up going elsewhere and saved quite a bit. Curious though, did anyone find the convenience of sticking with the builder's lender worth paying slightly more in fees?
I had a similar experience when I was building my place a couple years back. The builder’s lender made it seem like a no-brainer at first, especially with the convenience factor and all the paperwork streamlined. But once I started digging into the numbers, things just didn't add up. Plus, as someone who's pretty focused on green building practices and sustainability, I wanted to explore lenders who offered incentives or better rates for energy-efficient homes.
Funny enough, when I mentioned this to the builder’s lender, they seemed totally caught off guard—like they hadn't even considered that angle. On the other hand, shopping around was definitely more of a hassle than I expected... phone calls, emails back and forth, explaining my situation multiple times. But in the end, I found a credit union that had a special program geared toward green-certified homes. They offered slightly lower rates and waived some fees because my home met certain efficiency standards. It wasn't a huge savings upfront, but over time it's definitely added up.
That said, I do get why some people might stick with the builder's lender just for simplicity's sake. When you're juggling moving dates, inspections, and a million other details, convenience can feel priceless—at least temporarily. Still, from my own perspective, I'd argue it's worth investing a bit more time upfront if you can find something tailored to your specific needs or values.
I'm curious now though... has anyone else here looked specifically into lenders offering benefits for eco-friendly or energy-efficient construction? Wondering if these programs are becoming more common or if they're still pretty niche.
"Funny enough, when I mentioned this to the builder’s lender, they seemed totally caught off guard—like they hadn't even considered that angle."
Had almost the exact same reaction from my builder's lender... like sustainability was some alien concept. 🙄 Glad you found a credit union that gets it. I've noticed more local banks and credit unions stepping up lately with green incentives—still not mainstream, but definitely growing. Worth the hassle IMO, especially if you're committed to eco-friendly living long-term.
like sustainability was some alien concept. 🙄 Glad you found a credit union that gets it.
Had a similar experience—my builder's lender acted like I was speaking another language when I brought up eco-friendly options. Ended up switching to a local credit union... slightly more paperwork, but better rates and actual green incentives. Worth checking out if you're serious about sustainability.
