What Are the Benefits of Using Your Builder’s Lender and Title Company?

October 2, 2017

Maryland law allows homebuyers to select their own lender and title company. However, when a new homebuilder offers incentives, the builder can mandate the use of a specific lender and title company. Although homebuyers and/or their realtors are sometimes opposed, there is a very good reason to use your builders’ preferred lender(s).

Many times, buyers will seek “prequalification” from their own lender. While the buyer may be approved, the lender most likely did not verify tax returns or payroll deductions. Too many deductions can raise a buyers’ financial back-end ration, which will prevent them from getting their new home loan approved.

When a builder puts a home to-be-built on its credit line, proper qualification and buyer verification are required. Ameri-Star Homes has a strict policy that our preferred lenders must at least match, if not beat a buyers qualifying rate from another lender. We work to ensure our homebuyers are getting the best deal possible based on their income, credit history, and other important factors. If you have any questions about the lending process or financing, please give us a call (410) 590-1000 or contact us through our website.