Should I trust a lender that’s claiming to match any interest rate from another lender that I’m preapproved with?

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Should I trust a lender that’s claiming to match any interest rate from another lender that I’m preapproved with?

Question: We found a new house, and the builder has their own…

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Question:

We found a new house, and the builder has their own lender. That lender advertises that they will cover $4,500 in closing costs and will beat the rate of any other lender I bring them, if I have a pre-approval letter. I want to know if I can trust this lender.

Answer:

If I were you, I would request a loan estimate from the builder’s lender, and then do some research like read their online reviews. There shouldn’t be any reason to distrust a builder’s lender, but it’s probably best to do your due diligence just like you would any other lender. The rate is important but it isn’t the only criteria when deciding which lender to pick for your property purchase.


PS Check out our simple eval process where you can choose whether you want to: get real rates specific for your scenario (beware of teaser rates!), see how much home you can afford, get pre-approved, or quickly submit your contact info so we can get back in touch.