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Why Use a Preferred Lender?

February 27, 2020

Why Use a Preferred Lender?

Maybe you’ve heard the term, but why should you use a preferred lender? Not all mortgage lenders are alike. Some have more experience than others, and there are those who will really work for you. Local homebuilders in Seattle, like Blue Fern Homes, build strong relationships with mortgage professionals who understand the process of financing a new construction home, and they earn the name “preferred lender”. 

Financing a home-to-be

Buying an existing home is one thing. Buying one that is under construction is different—but certainly not difficult. And here’s where experience helps.

A savvy lender knows the steps in the homebuilding process and understands when certain steps need to be taken to avoid delays in your loan. These mortgage professionals pay attention to the construction status without needing a reminder. They use this information to order the appraisals and keep the funding on schedule. Even a seemingly small oversight can spark a big problem, so this knowledge is important. 

Blue Fern doesn’t bestow the title of “preferred” after just a few closings. We look for the mortgage professional who demonstrates a commitment to helping our homebuyers every step of the way—answering questions, explaining the loan steps, providing valuable advice, and proactively handling every detail. A really great lender makes the experience seem easy because everything is under control. Those other mortgage people are the ones who will inevitably steer you along a bumpy path to homeownership.

A fair appraisal

Appraising a home is done by a human, which means they bring subjectivity to their job. The conclusion of one appraiser might be higher or lower than another. The amount of your loan is pre-determined. The lender tells you how much they will loan you for this particular home, but that amount is contingent on the appraised value.

Let’s say the appraiser comes back with a value that is less than your purchase price. The lender then says they’ll only fund the appraised value, which means you have to come up with the difference between the loan and the purchase price.

Blue Fern takes pride in pricing our new homes fairly, and our preferred lender agrees. You can move through the process without the worry that an appraiser might come back with a fair value to your new home.

Get some credit for your choice

A preferred lender offers other benefits. You might earn closing cost credits, which not only makes the choice useful but also economical. The closing cost credit could be offered in a dollar amount or percentage points. Either way, it adds up to another great reason to work with someone who knows the ins and outs of new construction financing and rewards you for making the right choice.

Talk to a person, not a voicemail

Isn’t it frustrating when you need to reach out to someone about an important issue and get a recorded message? You want an answer now, not during “regular business hours” or—worse yet—whenever someone gets around to it.

One of the criteria of being chosen as a Blue Fern Homes Preferred Lender is responsiveness. These pros quickly get back to our customers—nights, weekends, and holidays. They appreciate the importance of making this big investment and won’t keep you guessing whether or not they received your message.

It’s really simple. We expect everyone on our team to treat our homebuyers with respect, courtesy, and professionalism. That includes our lender partners. Craig Walker at Absolute Mortgage and Jason Chiang of Wells Fargo Home Mortgage have demonstrated their excellence, and we encourage you to reach out to them for pre-approval to get started with buying a new home. And take a look at our Seattle homes for sale and many that we have under construction right now. Then contact Blue Fern Homes to schedule a personal tour.


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With the current pandemic, Blue Fern is taking careful steps to protect the health and safety of our customers and team members. We have intensified the cleaning protocol in our homes and offices, and we're limiting showings to private, in-person tours. Virtual home tours are always available, too. Head to our blog to read more on the best ways to manage during this pandemic.