Lennar Preferred Lender

Start Before You Register, Apply, or Visit

Talk with Roland before a Lennar form, financing request, credit inquiry, visit, reservation, deposit, or contract.

The Lennar sales representative works for Lennar. Lennar Mortgage is an affiliated lender. Neither one is the buyer’s real-estate representative.

Preferred Does Not Mean Automatically Best

A preferred lender may know the builder process and may offer a promotion. That does not prove the lowest total cost.

• Affiliation: Lennar Mortgage is part of the Lennar family.
• Coordination: the lender may work often with the builder’s closing team.
• Promotion access: some offers may require the affiliated lender.
• Written conditions: the home, community, dates, loan, and borrower facts may matter.

Lennar’s legal disclosures say offers may have limits. The home, community, dates, and lender approval may matter. The written offer controls.

Interest Rate and APR Answer Different Questions

• A lower rate may require more points.
• APR can help compare some finance charges.
• APR does not include every ownership cost.
• Comparisons work best when loan type, term, amount, and timing are alike.
• Neither number shows the full monthly housing cost.

Points and Permanent Rate Reduction

A permanent rate reduction may cost money now or use part of a builder or lender credit.

• Upfront cost
• Monthly payment change
• Break-even period
• Expected ownership period
• Other uses of the credit
• Cash reserves left after closing
• Total cost over the expected holding period

Points are not always good or bad. Their value depends on the exact costs and how long the buyer keeps the loan.

A Temporary Buydown Changes Early Payments, Not the Permanent Note Terms

The first payment may be lower for a limited time. The later payment deserves equal attention.

• Note rate: the permanent rate stated in the loan documents.
• Temporary payment: a reduced early payment funded by a subsidy.
• Later payment: the full payment after the subsidy ends.
• Qualification: follows the lender’s underwriting rules.
• Unused funds: follow the exact buydown agreement.

Do not plan on a future refinance. No one can promise that a later refinance will be available or helpful.

Credits and Incentives Can Come From Different Sources

The word “credit” does not always mean the same thing.

• Builder or seller credit
• Lender credit
• Temporary buydown subsidy
• Discount-point contribution
• Closing-cost assistance
• Option or upgrade credit
• Price reduction

Verify each credit in writing.

• Who provides it
• Which costs are eligible
• What deadline applies
• What happens to unused funds

Compare the Full Payment and the Later Payment

The lender’s principal-and-interest figure is only one part of the household cost.

• Principal and interest
• Property taxes
• Homeowners and wind insurance
• Flood insurance when applicable
• Mortgage insurance
• HOA or condominium charges
• CDD or district charges
• Special assessments
• Utilities and maintenance reserves
• Temporary payment and permanent later payment

Aha Moment

The Lowest First Payment May Not Be the Healthiest Loan

The buyer must compare the permanent payment, APR, points, fees, cash to close, insurance, taxes, HOA, district charges, and contract deadlines.

Ask: Is this only a payment the lender allows, or is it a payment that is healthy for my life?

Cash to Close Is More Than the Down Payment

The buyer should compare the complete cash requirement and the savings left afterward.

• Down payment
• Closing costs
• Discount points
• Prepaid interest
• Initial escrow funding
• Insurance premiums
• Deposit credits
• Lender and builder credits
• Moving and immediate home costs
• Emergency savings after closing

Compare Loan Estimates on Matching Assumptions

A fair comparison uses the same basic loan and property facts.

• Loan amount
• Loan type
• Loan term
• Property
• Target closing date

• Interest rate and lock status
• APR
• Points and lender credits
• Origination charges
• Services and government fees
• Prepaids and initial escrow
• Monthly payment
• Mortgage insurance
• Cash to close
• Adjustable, balloon, or other special features

A Loan Estimate is still an estimate. Some figures can change under permitted circumstances. Ask each lender to explain changes in writing.

Rate Locks and Construction Timing Must Work Together

A rate lock can expire if the home does not close within the lock period.

• Lock start and end date
• Required closing date
• Extension options
• Extension cost
• Who pays that cost
• What changes can affect the lock
• What happens after a builder delay

Lennar Mortgage says some locks may last up to 270 days. Confirm the exact term, cost, borrower, and home requirements.

The Loan and Purchase Contract Are Separate

A lender denial does not automatically cancel the builder contract.

• Financing application deadline
• Loan-approval deadline
• Approved-lender definition
• Lender-change rules
• Incentive conditions
• Appraisal treatment
• Loan-denial notice
• Closing date and extension rights
• Deposit consequences
• Buyer-default provisions

A Realistic Financing Comparison

This example is hypothetical. It does not use a current Lennar rate, payment, credit, or result.

A buyer receives two choices for the same home. Offer A has a lower first-year payment. It also has a builder credit. Offer B has no temporary subsidy and has different fees.

The buyer compares the full offer.

• Note rate and APR
• Points, fees, and credits
• First payment and later payment
• Insurance, taxes, and HOA charges
• Cash to close
• Lock period and extension cost
• Savings left after closing

The example does not declare a winner. The better fit depends on the written offers, deadlines, household budget, and professional advice.

Build One Financing Comparison File

• Written Lennar incentive terms
• Lender advertisement and assumptions
• Loan Estimates
• Rate-lock agreements
• Buydown agreement
• Point and fee disclosures
• Affiliate-business disclosure
• Purchase contract and financing addendum
• Appraisal provision
• Insurance and tax estimates
• HOA, condominium, CDD, or district amounts
• Closing Disclosure when available
• Written explanation of the later payment
• Proof of deadlines and submissions

Questions for the Right Professionals

Ask Lennar or the Builder Representative

• Which homes and communities qualify?
• What contract and closing dates apply?
• Must Lennar Mortgage or another affiliate be used for the offer?
• Can the incentive be used for points, costs, price, or options?
• What happens if the buyer changes lenders?
• Which written document controls?

Ask Lennar Mortgage or the Preferred Lender

• What are the note rate, APR, points, and fees?
• Is the rate locked, and what does an extension cost?
• Is the payment temporarily reduced?
• What is the permanent later payment?
• What assumptions and eligibility rules apply?
• What is the total cash needed to close?
• What happens after a low appraisal or construction delay?

Ask an Outside Licensed Lender

• Can you quote the same loan amount, term, type, property, and closing date?
• What are the rate, APR, points, fees, credits, payment, and cash to close?
• Can you meet the builder deadlines?
• What lock and extension terms apply?

Ask the Buyer’s Agent and Florida Attorney

• What should happen before Lennar registration or financing contact?
• Which incentive claims need written confirmation?
• Which deadlines must be tracked?
• What happens under the contract after lender change, denial, delay, or appraisal shortfall?
• Could losing an incentive affect a cancellation or deposit right?

Ask the Insurer, Tax Professional, or Financial Adviser

• Which insurance premiums belong in the comparison?
• What property facts could affect approval or closing?
• How should the buyer evaluate reserves after closing?
• What risks arise when the payment rises after a temporary buydown?

Your Calm Next Step

Compare the complete financing offer before you register, apply, or choose a lender.

Roland can help organize the written offers and questions. The lender, attorney, insurer, and financial professionals must answer within their roles.