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Personal Finances / Buying or Selling a Home


Subject:  Re: Help on new construction? Date:  6/14/2002  4:08 PM
Author:  himjhamb74 Number:  43524 of 129163

This was a nice article, thanx !

Have one more question regarding this ...

Since the builder wants me to apply with their financial company anyway, it is going to cost me the application fee - about $350/-. Now, it appears to me that if I do not go along with the builder's company & choose to go with someone else, I end up paying 2 mortgage application fee.

Isn't it illegal or discriminatory on the part of the builder to have the buyer go through their mortgage company ? I mean, they should have the provision of reimbursing that $350/- if the buyer chooses to go with some other mortgage company since the buyer wouldn't have applied with the builder's mortgage company ! So, it sounds fair enough for the buyer to get reimbursed that amount.

Pls. do comment on this.

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