Preferred Lender Incentives
Definition of term
Lenders offer preferred lender incentives to encourage homebuyers to use their services when buying a home. Preferred Lender Incentives (PLIs) can include a lower interest rate, new build upgrades, extra money towards your down payment, or having a portion of closing costs paid for by the lender. Builders will partner with a preferred lender, and using a preferred lender for a new build can be advantageous since they may offer a more competitive rate or money towards the buyer’s closing costs.