Great question! From your perspective it must look a little crazy… You might be thinking, “You not only want me to trust Garman Homes to build my dream home…you also want me to trust your preferred lender! That’s asking a lot!” I understand where you are coming from. And you are not the first to be suspicious of the Preferred Lender incentive. In the wrong hands, it could be a raw deal for the customer. But here’s our deal…
No Financial Benefit to Garman Homes – When you work with Phil @ Wells Fargo, we do not receive a dime. There is no “marketing agreement” in place that compensates us for advertising, there is no joint-venture that we own a stake in. In fact, if you were to choose another lender, we would save the $2,000 that we would pay as the incentive. It’s actually cheaper for us if you use an outside lender!
Then Why Phil Jawny & Wells Fargo?
1. Phil’s Team Knows New Home Mortgages – These guys specialize in exactly what you are doing. They know the ins/outs of new home financing, they understand the tricky timing issues involved in contracting on a home that has not been built yet, or under construction. And they understand they must get the loan package done on time so you can meet your commitments to the builder.
2. We do a bunch of work together – We do so much work together that we are Phil’s priority. When there is an issue, Phil’s team responds quickly and gets it resolved. And we always err on the side of benefitting YOU, our customer. If something doesn’t quite seem right on your loan, I can make a call to Phil and get it figured out. With an outside lender, I can’t help in that way.
3. Wells Fargo is STRONG – Wells Fargo is one of the strongest financial institutions out there. They have great programs and the depth to back them up.
The most important thing is that together, Phil & I can get things done to ensure you get a great mortgage and have a great experience. When I work with outside lenders, I don’t have a relationship to fall back on when the going gets tough. And to them, this single loan is just a blip. I’m just a guy jumping up and down and flailing my arms.
The incentive we offer to work with Wells Fargo is for both our benefits…I want the entire process, not just the construction, but also the financing, to go smoothly. And I want to be able to help if there is a hitch. It’s OK if you choose to go with an outside lender, but the money we set aside is only for Phil Jawny @ Wells Fargo because I know the value his team brings to our customers’ experience.
Thanks for reading this long post! I'm always available for questions. Rock Stars Wanted!
Jim Garman
jim@garman.net
