We went with an outside lender after initially considering the builder's option. Honestly, the paperwork was still a headache either way. Curious though, did your neighbors mention if switching lenders delayed their closing dates at all?
"Honestly, the paperwork was still a headache either way."
Completely agree with this—no matter the lender, paperwork is unavoidable and always seems to pile up near closing. From experience, switching lenders can occasionally introduce minor delays, mostly due to reprocessing documents or appraisal transfers. However, these delays typically aren't significant if communication between all parties is clear and proactive. If you're considering a switch, it might help to double-check timelines and coordinate closely with your builder to keep things smooth.
Gotta disagree slightly here—yeah, paperwork sucks either way, but switching lenders late in the game can sometimes cause more than just minor delays. Had a friend whose closing got pushed back almost two weeks because of appraisal hiccups...just something to keep in mind.
Interesting point about appraisal delays...makes me wonder, though, is the risk of delay mostly tied to switching lenders late, or could it also depend on the lender's familiarity with new construction appraisals? I've heard some lenders handle new builds differently, maybe smoother, than others. Has anyone noticed if builder-preferred lenders typically have an edge when it comes to appraising brand-new homes, or is it just luck of the draw?
"I've heard some lenders handle new builds differently, maybe smoother, than others."
Good observation—builder-preferred lenders often have established appraisal processes tailored specifically for new construction. They know the local market nuances, builder reputation, and comparable sales data better...so yeah, it can definitely streamline things and reduce appraisal hiccups.
