"Even if you end up sticking with your builder's lender, at least you'll know you're making an informed choice."
That's a great point... but I'm curious, did anyone find that outside lenders were flexible enough to match or beat the builder's incentives? When we built our place, the builder threw in some tempting perks like appliance upgrades and closing cost credits. Wondering if others had luck negotiating similar deals elsewhere or if those perks usually outweigh the hidden fees?
When we built our place, the builder's lender perks looked good at first glance, but once I started crunching numbers, things didn't quite add up. Sure, appliance upgrades and closing credits sound nice, but I found outside lenders more willing to negotiate on interest rates and fees. Might not be as flashy upfront, but over the life of the loan, those savings really stack up. Did you factor in long-term savings vs immediate perks? Curious how that worked out for others...
Went through something similar recently. The builder's lender threw in some tempting upgrades, but when I sat down and mapped out the numbers, it wasn't as clear-cut as it seemed. Here's how I approached it: first, I listed out every perk offered—appliance upgrades, closing credits, etc.—and assigned each a realistic dollar value. Then I compared that total to the savings I'd get from a lower interest rate over 10, 15, and 30 years. Honestly, the long-term savings from even a slightly lower rate blew those upfront perks out of the water.
One thing to keep in mind though—sometimes builders can get you quicker approvals or smoother processing because they're familiar with your project. Did you factor in convenience or timeline differences when comparing lenders? Curious if anyone else found that aspect significant enough to sway their decision...
Went through something similar myself, and honestly, the builder's lender did make things easier paperwork-wise... but convenience wasn't enough to justify the higher rate. I figured a few weeks of hassle was worth saving thousands in the long run.
- Good points, convenience isn't everything if the numbers don't add up.
- I've seen clients regret sticking with builder's lenders later on due to higher rates.
- Curious though, did you find negotiating with outside lenders straightforward or was it a bit of a battle?
