7 ways Guaranteed Rate helps builders sell more homes
The adventurous, entrepreneurial spirit of home builders is something we admire at Guaranteed Rate. Not only do you go to great lengths (and literally climb to great heights on ladders) to create something from nothing, but you also take on the risk and responsibility of selling your creations to prospective buyers.
New construction loans often involve additional hurdles that aren’t in play for people who are purchasing an existing home. For you, the builder, this can result in a white-knuckle ride to the closing. The stress can multiply when your project involves dozens if not hundreds of units.
We’re not telling you anything you don’t already know. What we are telling you is this: We get it, and we’re dedicated to your success. We want to help grow your business, and here are the 7 ways we can help you sell more homes.
We help minimize contingent offers.
Our expanded debt-to-income ratio, 5/1 ARMs that qualify at the note rate and no equity requirement on the departing residence lead to more non-contingent contracts.
We give REAL underwritten approvals online.*
Our Digital Mortgage technology is integrated with automated underwriting engines to help ensure that your buyers are qualified.
We help reduce buyer fallout.
We work with your buyers to review pitfalls such as taking on additional debt, how job changes affect approvals, issues on the credit report and power of attorney options for the close.
We issue closing disclosures prior to final inspection.
Putting the CD in your buyers’ hands earlier in the process minimizes surprises and increases the likelihood of quick, on-time closings.
We provide 24/7 loan status updates.
With a free membership on our partner site Gateless, real-time status notifications about your buyers’ loans are triggered at every step and emailed directly to you.
We work with local appraisers.
By drawing from a hand-picked pool of local professionals who know your market, we instill confidence that your appraisal will reflect fair value.**
We have extended lock programs.
Your buyers can lock in a rate for up to 12 months while their home is being built.
Work with the lender that’s built for builders. Work with Guaranteed Rate!
*“Real Approval” means an automated underwriting system approval based upon credit information supplied by applicant and subject to Guaranteed Rate’s review of loan documents. Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of applicant’s application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Guaranteed Rate for current rates and visit www.rate.com/restrictions for more information.
**Select Jumbo investors may require a third-party appraisal management company.
Continue Your Guaranteed Rate Education