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Can I use my local bank?

Posted on: 25th May, 2012 01:24 am
We went and looked at some new builds. I found that some of the lenders have set up their loan office on site. Since there pretty much in charge of the house do I have to go through them or can I continue to use my local bank loan officer? Thanks I'm going to be a first time buyer so still learning.
Hi Bolon,

As far as I know, the builders are more interested in selling the homes rather than knowing whom you're planning to take out a mortgage. You can take out the mortgage either from your local lenders or the lenders that you find near the site.

Thanks
Posted on: 25th May, 2012 03:10 am
Welcome Bolon,

I agree with Sara that you can take out a loan from anyone you feel like. However, it is also a fact that if you take out a loan from the lenders who have set up their offices near those new builds, you may get certain discounts which normal lenders may not provide you with.
Posted on: 25th May, 2012 08:01 pm
>>do I have to go through them or can I continue to use my local bank loan officer?

You can use your local bank loan officer, but their Lenders will entice you with incentives. If I were you, I'd get quotes from all of them, compare their quotes, and select the one that works best for you.
Posted on: 26th May, 2012 09:19 am
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