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Preferred Lender

Definition of term

A preferred lender is a mortgage company with an affiliated business arrangement with the builder. While buyers are not required to use the builder's preferred lender, some will offer incentives such as reduced closing costs in exchange for doing so. It's important to compare the preferred lender's interest rate and fees because while they may offer a closing cost incentive, their loan terms may be less competitive than other lenders.

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555 Marriott Dr., Suite 315,

Nashville, TN 37214