Yeah, good points all around. I went with a local credit union myself, and one thing I appreciated was that they actually took the time to explain some of the fine print the builder's lender glossed over. Builder incentives can look great upfront, but sometimes there's a catch buried deep in the details. Also, brokers can definitely be helpful—my brother used one recently and ended up with a surprisingly good rate. Worth at least checking out before you commit.
I second the credit union suggestion. When I bought my place, I initially leaned toward the builder's lender because of the incentives, but after crunching numbers with my local CU, it turned out I'd save more long-term by skipping the upfront perks. Brokers can be great too, but it's important to ask around and check their reputation—some are definitely better than others. Bottom line, don't rush into anything without comparing your options carefully... a little legwork now can really pay off later.
I had a similar experience a couple years back when I bought my house. The builder's lender was throwing around some pretty tempting incentives—closing cost credits and upgrades—but something just felt off. Decided to do a little digging myself, and after talking to a few local banks and credit unions, the math didn't lie: the incentives were nice upfront, but the rates just weren't competitive long-term.
One thing I'd add is to really scrutinize the fine print on those builder incentives. Mine had conditions that weren't immediately obvious—like penalties if you refinanced within a certain timeframe. Made me wonder how many folks overlook that stuff because they're dazzled by shiny perks.
Honestly, even though brokers can be helpful, I think it's wise to trust your gut and do your own homework first. Brokers have their place, sure, but they're not always impartial... they've got their own motivations too. It's your money on the line, after all.
Good points, but do you think sometimes the convenience factor might outweigh a slightly higher rate? For me, as a first-timer, having everything bundled together felt less overwhelming... maybe paying a bit extra is worth less hassle initially? Curious what others think.
I get the convenience angle, especially when you're new to all this—it can feel like a lifesaver. But have you thought about how quickly that 'little extra' adds up over the years? When I bought my first place, I almost went with the builder's lender too, but then I ran some numbers and realized even a slightly lower rate elsewhere could save thousands long-term. Maybe it's worth a bit of initial hassle to free up cash for other things down the road...?
