A couple of months ago, luxury home builder Toll Brothers announced that it would offer 30-year mortgage financing for 3.99%. This was big news, and now rival homebuilder Lennar wants in on the action. Lennar just announced that it will be offering 30-year fixed mortgages at 3.625%.

These mortgage financing deals are starting to pop up around the country. In addition to new construction homes, there are special deals being offered on home equity lines of credit, as well as special financing options from local and regional financial institutions. Indeed, right now it’s not the big banks that are offering the best deals. You’re better off looking local — or going to homebuilders.