Solano Real Estate Scene: Jim Porter
Article By: Jim Porter – May 1, 2026
Almost all the new home builders own a mortgage company these days, and the few that don’t have a preferred lender relationship, so the builders often legally steal pre-approved borrowers away from bankers, credit unions and brokers. They win with incentives that are only given if the buyer uses the preferred in-house lender.
Today, Taylor Morrison, Beazer, Meritage and Lennar are offering all kinds of different incentives to get buyers off the fence. Some of these builders are offering $25,000 for closing costs, solar, landscaped backyards or special loan programs like adjustable-rate loans fixed for seven years below 4%.
Thirty years ago, or so, I remember a new home builder in Browns Valley, Vacaville, offering a free swimming pool for buyers as an incentive. This was before all the big builders owned a mortgage company. They still had preferred lenders but because they were not profiting off the loan, a spot retail loan officer like me could convince the sales rep and her boss to let me do the loan and still give the buyer the pool or the closing costs credit.
Nowadays, the only time the builder might allow an outside lender is when the preferred lender cannot approve the loan. Local lenders are hurt occasionally by these corporate builder lenders, but we need new homes, so people sell their old ones to buy the new ones. The old ones are needed for inventory because many buyers want a backyard already done in an established neighborhood.
Some move-up buyers want a dream home that has low property taxes at 1.15% per year versus some new homes at 1.7% per year. Most first-time home buyers in Solano County cannot afford a brand new home, and local lenders need houses for these people.
Finally, the other thing that is positive about a buyer’s market like this is that the builder and even regular home sellers will accept an offer from someone and give them time to sell their old house for the down payment.
Jim Porter, NMLS No. 276412, is the branch manager and senior loan adviser of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.
Jim Porter, NMLS No. 276412, is the branch manager of Solano Mortgage, NMLS No. 1515497, a division of American Pacific Mortgage Corporation, NMLS No. 1850, licensed in California by the Department of Financial Protection and Innovation under the CRMLA / Equal Housing Opportunity. Jim can be reached at 707-449-4777.
