Quote:
Originally Posted by Bean
The banks that my fiance and I deal with are offering us rates that are slightly higher than others so a loyalty discount may not add up to much. In example, the bank w/ the relationship with the builder is RBC.
I guess I might be jumping the gun a bit here, but does that mean that those who build must go through a bank b/c they can hold a rate for 12 months or so?
I'm a little hesitant with going to a bank as my research is showing that brokers will take care of a few of the fees (appraisal, registration) and that they will be able to perform one credit check instead of one check per bank.
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Agree with Fotze, you should hold both rates...
The rate with the builders bank as they will generally hold the rate even if construction takes 15 months. And one with your broaker, I found that they just keep applying for extensions with the lender. In the end you'll have 2 pre qualified mortgages, pick the best one.