Went through something similar a couple years back when we finished our house. At the time, we were so mentally drained from the build itself—permits, inspections, delays, you name it—that the idea of shopping around for another lender felt like torture. We just stuck with the builder's lender because it was convenient, and honestly, the thought of one more email chain or phone call made me cringe.
But here's the thing... about six months later, I was chatting with a neighbor who had shopped around and ended up with a noticeably better rate. At first, I kicked myself a bit thinking we'd missed out. But then again, I remember clearly how exhausted we were at the time. Our stress levels were already through the roof, and I'm not sure saving a few bucks a month would have been worth the extra hassle and anxiety back then.
Still, hindsight is tricky. If I had to do it over, I might've taken just a little extra time to at least glance at other offers. Maybe not a full-blown lender shopping spree, but a quick check-in to see if there was anything significantly better out there. It doesn't take that much effort to at least ask around a bit, and who knows—it might've given us either peace of mind or a reason to switch.
I guess it boils down to what matters most at the moment: convenience or savings. And sometimes, convenience really is worth paying a little extra for. Either way, don't beat yourself up too much over it. You made the decision that felt right at the time, and that's all any of us can really do.
I can relate to that feeling of exhaustion after finishing a build. We went through something similar—by the time we got to financing, we were so burned out from all the red tape and delays that convenience felt like a lifeline. But I have to admit, I'm naturally skeptical of builder-recommended lenders. They're often convenient, sure, but they're also banking (literally) on people being too tired or overwhelmed to shop around.
In our case, we did end up checking briefly with one other lender, and surprisingly, the builder's offer wasn't terrible. It wasn't the absolute best either, but the difference was small enough that we decided convenience outweighed the savings. Still, I think it's always worth at least a quick check elsewhere—just to keep everyone honest. A friend of mine found out later his builder's lender had some hidden fees he missed initially... so there's that.
Bottom line: don't beat yourself up. You made the best call you could at the time, given your circumstances.
Good points all around. A couple things from my perspective:
- Builder lenders aren't always the villain, but yeah, skepticism is healthy. I've seen builder lenders offer genuinely competitive rates because they're incentivized to keep the process smooth and timely (delays cost everyone money).
- That said, convenience can be a double-edged sword. I've had clients who went with the builder's lender purely for ease and later found out they missed better deals elsewhere—nothing catastrophic, just enough to sting a bit.
- Quick anecdote: one homeowner I worked with was so exhausted by closing time he joked he'd sign anything just to get keys in hand. Thankfully, his wife insisted on a quick comparison check. Ended up saving them a few thousand bucks in fees.
Bottom line, don't sweat it too much—you did your due diligence given your circumstances. But if anyone else reading this is still on the fence... at least peek around before signing on the dotted line.
Definitely agree with the convenience factor being a double-edged sword. I've seen it firsthand—had a client who was dead set on using the builder's lender because everything was "just easier." Can't blame him, really; building a home is exhausting enough without adding lender shopping into the mix. But when he casually mentioned the rate he was getting, I suggested he at least make one quick call elsewhere. Turns out, he found a significantly better deal with minimal hassle.
On the flip side, I've also had clients who shopped around extensively only to circle back to the builder's lender because they genuinely had the best offer. So yeah, builder lenders aren't always out to get you—they often have real incentives to keep things smooth and competitive. Still, it never hurts to double-check... just don't drive yourself crazy over it.
Totally get what you're saying about convenience being tempting. When we built our place a couple years back, we were so drained by the end of construction that the builder's lender felt like the easiest choice. But then my brother nudged me to at least check with his lender—just to be sure, you know? I was hesitant, but one quick call later, we ended up saving a decent chunk on our interest rate. Honestly, it was way less hassle than I'd imagined.
Still, I have friends who went through the whole lender-shopping circus and ended up right back where they started. Sometimes the builder's lender really does have the best deal, especially if they're offering incentives or credits. You're right though—checking around is smart, but there's definitely a point where it can become overwhelming. Good on you for encouraging your client without pushing too hard... sometimes people just need that gentle nudge.
