first equity mortgage drees homes financing overview for new buyers

What it is

First Equity Mortgage is a builder-affiliated lender that works closely with Drees Homes communities, offering loan options tailored to new construction timelines, from pre-approval through closing.

How it helps

Because the mortgage team coordinates with the builder, buyers often get streamlined updates, locked timelines, and guidance on rate locks, construction draws, and closing disclosures. You still compare offers, but the integrated process can reduce surprises and duplicated paperwork.

Key considerations

Eligibility, pricing, and incentives vary by market and program. Ask about points, lender credits tied to using preferred title services, extended lock options, and what happens if build dates shift. Clarify appraisal expectations for to-be-built homes and how change orders may affect your loan.

• Request a detailed Loan Estimate and compare with at least one outside quote.
• Confirm the timeline for final underwriting and rate lock extensions.
• Verify HOA dues, taxes, and insurance used in qualifying.
• Ask about float-down possibilities if rates drop.
• Get all incentives documented in the purchase agreement and lender addenda.