Recommedations for mortgage loan

[Pineknot69]

I hope you all can help me out. I live near Nashville and we are building a home with Ryan homes. Purchase agreement has been signed with NVR mortgage mainly because they offered us 5000.00 in closing costs. Since then I've read some reviews and I am considering alternative lenders in our area. We spoke with another local lender but he didn't offer closing cost benefit so my fiance wants to go wtih NVR unless we can find another lender with similar closing benefit. 

Right now our application for pre-approval is in underwriting. We are both veterans. We want to get a 30 year VA loan with fixed interest rate. 

If anyone has advice please respond or pm me! Thank you!

[DallasLoanGuy]

is nvr the builder's preferred lender?

that might be why the incentive is there.

any lender can give an incentive. <= if you qualify for 3.75% they give you 4% and closing cost credit.

[Pineknot69]

Thanks, yes Ryan homes pointed us that way. The closing costs are the issue, I wanted to check out other lenders in the area and see if we could get a similar perks with a more reputable lender.  It's been almost a month since NVR pulled our credit to pre-qualify us so is it too late to try with other lenders or would the inquiry hurt us? Thanks Dallas Loan Guy!

[MauiMan85297]

The inquiry would only hurt (points wise) if it was done outside of 30 days since the last was pulled.  CRA's know this as it gives you ample time to shop around, inquiry is coded as mortgage not like a CC.

[Pineknot69]

great! Thanks

[DallasLoanGuy]

might lose a handful of points.

and that may or may not hurt you. depends on the score now

[ArmyWifeMBA]

But, the points will drop AFTER the pull.  So, if you check now, I would think whatever your Mortgage score is showing is what the lender will see.

[Pineknot69]

Thanks for the info!