More Choice, MoreFlexibility: Beazer Helps More Buyers Close with Embrace Home Loans
A Builder Case Study
There’s no place like home, and Beazer Homes has delivered homes to people for nine generations. From its start in England to its current presence across the US, Beazer creates places where people can thrive, regardless of where they are on their life journey. Beazer produces a wide range of new-construction homes, including single-family detached, townhomes, condos, and 55+ communities that range from $400,000 to $1 million. If they’ve learned anything over the years, it’s that every buyer is unique.
“We service a variety of clients and have a variety of price ranges in our market from first-time home buyers to move-up buyers to people downsizing and taking out a small mortgage,” explains Taylor Oakley, VP of Sales for Beazer’s Maryland division.
Because of that diversity, Beazer’s biggest challenge is providing the right mortgage products for every situation.
A program with something for every need
Any new construction builder’s top priority is getting buyers into their homes, but that’s not enough for the team at Beazer. They want their customers to get the best mortgage financing available and sail through closing.
That’s why Beazer developed the Mortgage Choice program, which features a select group of lenders that offer many loan products, competitive rates, and excellent customer service. Every Beazer Homes buyer must shop for a loan with at least two Mortgage Choice lenders.
“We face many different audiences, so our lenders really have to be able to tailor their products, services, and even personality to deliver a great experience to our buyers,” Oakley says.
Mortgage Choice loan officers are adept at connecting with everyone, from a self-employed, first-time
homebuyer to a retired couple looking to downsize. In addition, a Mortgage Choice lender must also be adependable partner that Beazer can trust to usher its customers through financing.
Embrace Home Loans is one of those lenders.
Competitive rate locks and creative options that appeal to everyone
Beazer has included Embrace in their Mortgage Choice program since 2022, and one of the biggest reasons is their extremely competitive rates. Their Rate Locks and Float Downs program, extendable for up to a year, is also well suited to the longer delivery times of pre-construction homes.
“It’s huge to be able to lock rates for our buyers,” Oakley said.
Beazer Homes benefits from its relationship with Embrace in other ways, too. For example, Beazer has taken advantage of Embrace’s Forward Commitment program for its move-in-ready homes, which can close in as little as 30 days. This program allows Beazer to secure a block of loans upfront with a set interest rate. Many lenders offer forward commitments, but the Embrace program is unique in its flexibility to lock in rates of all loan types.
“As a builder that doesn’t own a mortgage company, we couldn’t advertise interest rates. But by
capitalizing on a Forward Commitment with Embrace, we have secured rates we can market to the public.It’s a great feature that makes closings happen,” Oakley explained.
Purchasing a forward commitment with Embrace can have a significant impact, as demonstrated when Beazer faced a large inventory surplus in its Delaware market. In this area, where retirement and second-home buyers often treat purchasing as a luxury rather than a necessity, the Forward Commitment played a key role in encouraging them to move forward with their purchase.
“By leveraging the Forward Commitment with Embrace, we made a big dent in our inventory homes,” Oakley explained. “For people who didn’t need to buy this home, the attractive rate made them get off the fence.”
Partnerships that transcend products
Apart from having a range of competitive products, the Mortgage Choice program requires all lenders
to “play well in the sandbox,” meaning they focus on the value of their products and form quality
relationships.
Those relationships often involve Oakley’s local Embrace loan officer, Kevin Richardi. He’s always available, accessible, and ready to connect with buyers before and during the build process.
“He’s a great asset to our team,” Oakley said.
All these reasons contribute to Embrace Home Loans capturing 21% of Beazer Homes’ lender-financed business, hitting the target for a Mortgage Choice program. Some Beazer Homes employees were so impressed by the offerings that they are among those who choose Embrace Home Loans as their mortgage lender.
No buyers left behind
Many of Beazer’s homebuyers find it difficult to obtain a loan because some lenders have eliminated loans for non-traditional buyers. Those buyers find options with Embrace. Embrace only requires a 580 credit score for FHA-insured and VA loans, so more buyers can qualify for this program—buyers that other lenders can’t accommodate.
“Embrace has great opportunities for a non-traditional home buyer,” Oakley said.
For example, a self- employed person without a W-2 can use bank statements or their 1099 tax form as proof of income.
Embrace understands the challenges specific to the new-build market, and has proven to be a partner
Beazer can trust to attract new prospects and ensure every buyer gets what they need to get into a Beazer home.
“The biggest benefit of working with Embrace is it’s a true partnership,” Oakley said. “It’s a team
effort to ensure the buyer is at ease and can ultimately go to the closing table. Our most successful
lenders act as an extension of Beazer, and that’s what Embrace can do.”
Embrace provides options for everyone, and their customizable financing options empower Beazer to boost sales in an ever-changing market.