I went through something similar last year. Stuck with the builder's lender at first because of those tempting incentives, but after closing, I did some digging around local banks and credit unions—just to see. Found a credit union offering almost half a percent lower rate and fewer fees. Refinancing was a bit tedious, but honestly, the savings over the loan's lifetime made it totally worth my while. I'd say it's definitely worth shopping around, even if just for peace of mind.
Yeah, totally agree it's worth checking around. Those builder incentives can feel like a no-brainer at first, but they're not always the best deal long-term. When we refinanced, the paperwork was a bit of a drag, but it gave us a chance to tweak some terms—like shortening the loan period slightly without raising our monthly payments too much. Even small adjustments can add up big-time over the years. Definitely pays off to crunch the numbers yourself and see what's out there.
Yeah, builder incentives always seem shiny upfront, but there's usually a catch somewhere down the line. My cousin went with the builder's lender because it felt simpler at the time, but later realized he'd locked himself into some pretty meh terms. Refinancing helped him out eventually, but it was kind of a hassle to untangle.
Honestly, I think it's worth doing a quick sanity check by looking around at other lenders. Even if you end up sticking with the builder's option, at least you'll know you're not leaving money on the table. Sometimes just mentioning you've shopped around a bit can even nudge them into sweetening their deal—funny how that works. Anyway, better safe than sorry with this stuff...
Yeah, good points there. I've always wondered if those builder incentives are just bait to keep things convenient upfront. Might be worth a quick look around—worst case, you confirm you're already getting the best deal, right? Better than kicking yourself later...
"Might be worth a quick look around—worst case, you confirm you're already getting the best deal, right?"
Exactly my thought. When we bought our first place, we almost went with the builder's lender because of those tempting incentives. But after shopping around, we ended up saving quite a bit each month. Definitely worth the extra legwork...
