A: A preferred lender is the mortgage company that a builder or developer regularly works with.  Financing incentives offered to buyers in the project are only available when obtaining a loan through the preferred lender. Preferred lenders offer several advantages:

• Streamlined Process: Because of their familiarity with the builder’s timelines, paperwork, and procedures, transactions tend to move faster and with fewer surprises.
• Community Expertise: These lenders typically have in-depth knowledge of the specific community, including eligibility for any builder-offered incentives or promotions.
• Enhanced Communication: Direct lines of contact and ongoing collaboration between the lender and builder help ensure coordinated updates and timely closings.
• While you’re free to choose any lender, working with a preferred one can offer added convenience and potential benefits that align with your new home purchase.

A: You must be pre approved by our preferred lender however you are not required to use our preferred lender for your new home purchase. We do strongly encourage our homebuyers to use our preferred lender and take advantage of our promotional rates.

A: It could, especially if the outside lender is unfamiliar with the builder’s requirements or timeline. The preferred lender will have processes in place to facilitate fast and smooth coordination with the builder.  In addition, the preferred lender already has critical documents related to the property and project.

A: In most cases, the pre-approval process is quick and straightforward—especially when all required documentation is submitted up front.

Once your application is received by our preferred lender:

• • A credit check is conducted.
  • Your submitted information is thoroughly reviewed.
  • If no additional documents or verifications are needed, a pre-approval letter is typically issued within 1–2 business days.

Please note that applications are reviewed on a first-come, first-served basis. To avoid delays, we recommend submitting a complete application along with all requested supporting documents as soon as possible. The more complete your file is from the beginning, the faster we can move forward with your home financing.

A: Unless you are paying cash for a home the Pre-approval is required to help ensure only buyers who are qualified to purchase are reserved on home sites as the become available. We do not want to have buyers go into contract only to find they do not qualify or are uncomfortable with the terms and requirements of the mortgage. It protects both you as a buyer and us by taking this step of pre-approval.

A: The builder has partnered with the preferred lender to lock in a block of mortgage funds at the below market interest rate for future homebuyers.  Securing the rate allows the builder to offer interest rates that are significantly lower than what is typically available on the market to qualified buyers for a limited time until the committed loan funds are used. By securing rates in advance, the builder protects both the buyer and the deal from rising market rates, making new homes more affordable.