Recently I've reserved a home at a new community that has just barely begun construction. The developer wants all new buyers to go through a pre-qualification process with their internal mortgage team. Their mortgage specialist keeps pressing me for info on financial background.
Why is the developer so keen on getting me pre-qualified before purchase when they don't even have physical homes to sell?
Why do developers want pre-qual through their own team and not an outside lender?
Both practices are quite common for other home developers as well. I just don't know why.