No. of Recommendations: 0
If I were faced with this situation, and I still wanted to proceed with this builder, then I think I would get a pre-approval letter from my bank and include it with the contract, and I would strike out the builder's lenders clauses when I made my offer to the builder.

- I am well past this stage. I had got a pre-approval letter from a company before I started looking for a home. But, the builder specifically states in his contract that they need the buyer to get a mortgage application done through their lender. I checked with my attorney today & she told me that it is a legal clause in the contract. I am not bound to close with their lender.. but I have to apply once through them as well. The only hitch I have with this is that I would be wasting my loan application fee with their lender, which , I believe they should reimburse me if I don't go with their lender. I even tried to strike out the clause from the builder's contract about applying with their lender, but they didn't let me. That brings us to the next point that you have made.

If that failed, I think I would apply for the loan through the bank, apply for the credit card, then apply for the loan through the builder's lender. This way, the lowest score would be with his lender.

- This is exactly what I am gonna do now. Am getting a better rate with a Federal Saving's bank than I would get with the builder's lender. So, I am gonna apply for this before I apply with the builder's lender, then, I am gonna get the Credit card & then, finally, am gonna apply with the builder's lender. I am still a bit weary of applying for the credit card as I don't know how much it affects the loan application.
If its just a meagre credit check, then I don't think its much of a concern but if it denotes something major, then I would prefer waiting on it. Pls. advise.

Thanks for all the timely comments from everyone.
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