Farbet I very much agree on that point. In order to get the incentive you HAVE to use the preferred lender. What I don’t know is how competitive the rates of the preferred lender are. None of my clients who I have represented for buying new homes ever does the homework. They simply have ended up using the preferred lender. Is this legal or not? I am not sure but I don’t see why it is illegal.
This is only speculative by me but I wonder if most of the preferred lenders that are used were involved in helping to underwrite the original project development. Bugs or Surveyor would know more on that then I would.
