Just like many of us have preferred mechanics, preferred dentists, preferred dry cleaners, preferred restaurants and more, most every new construction home builder or even realtor has their own preferred lender. But, what does that mean? And, how does it benefit you, the buyer? We’ll break it down for you here.
In our case, Payne Family Homes didn’t always have a preferred lender – that’s an earned position.
New Home Construction Specialist
Our preferred lending partner is a financial expert that specializes in pairing the buyer of new home construction to the perfect loan product (or products) for the best overall value and an on-time, hassle-free closing. Sounds simple, but you would be surprised.
Understands the Timeline of Building New
Building a new home obviously takes a longer period of time than purchasing and moving into a used home. Over that timeline, there are specific required functions involving your lender to ensure that construction remains on schedule and your closing date does not get delayed. A lender that specializes in new home construction is well aware of the building process and is particularly sensitive to these lending requirements.
Avoid Pitfalls and Delays
Because our preferred lending partner understand the process of new home construction and the very specialized requirements of funding residential construction, they are especially prepared to avoid pitfalls. As buyers, we “close” on a home only a handful of times in our lives. At Payne Family Homes, our preferred lenders experience new construction closings virtually every business day of the year – year after year. Our partners earned their title as Preferred Lender because they have proven time and time again that our buyers are in good hands with them. We have observed very few, if any, delays when our buyers finance through a preferred lender.
Unique Product Offering
Equally important, our preferred lenders have in-depth knowledge of specialized lending products that are uniquely suited for new home buyers. They are fluent in bridge loans, recasts, FHA, VA, conventional, ARMs, and a lot more! While maintaining the highest level of integrity and sharpest eye on your financial security, our lending partners can often help shape a loan package that reduces or eliminates closing costs, reduces or eliminates PMI, and helps buyers avoid a double move. Not all products or benefits are available to all buyers. So, you’ll want to have a one-on-one private consultation to review your personal situation.
You Choose Your Lender
While we have every confidence in our partners, choosing a lender for your new home purchase is ultimately your decision. You are not required to work with a Payne Family Homes preferred lender.
No Obligation Consultation
Payne Family Homes recommends two local experts to our customers. Depending on the area you’re shopping, we’ll recommend either Paramount Bank and Groundwork Mortgage. We have worked with these lenders for a number of years and they have earned our trust and our referrals based on the experience and the satisfaction of our past customers. They have proven their value and consistently exhibit honesty, fairness, and exceptional customer care. Before you finalize your new home construction loan, please consider a no-cost no-obligation consultation with our preferred lenders. Ask your community manager for contact information.