Would be very helpful , if you could explain how this process works , as it seems , it is quite different for a new construction than a re-sale. My specific questions :
1. Builder wants me to go with their preferred lender and wants me to get a mortgage commitment from that lender.
2. Tentative closing Date is in 3 months.
1. Do i shop for Lenders/Rates now or later when i need to lock down the rates (This would be done when i get exact dates from my builder on closing date ) ?
2. If i get a Mortgage commitment now and then want to switch the lender at the time of closing , based on who gives me the best deal , is that allowed ? I understand that i might lose on the fees that i paid to get a mortgage commitment.