How To Get a Loan for a New-Construction Home: What Homebuyers Need To Know
If you’re thinking of buying a brand-new home, you might be wondering if securing a mortgage will differ from one for a previously owned property.
While much of the financing works the same for homes both new and old, there are a few subtle differences when you purchase new construction. Specifically, there are a few extra steps required to lock down a loan for a new-construction home, making it important for homebuyers to understand what is expected of them—and when.
Here’s what you need to know about getting a loan for a new-construction home—as well as what questions to ask—to keep you on the right path all the way to closing.
