For Buyers
Buying a New Construction Home
Everything that happens between signing with your builder and picking up your keys — explained in plain English, with no lending jargon.
Start here
How financing a new home is different
Buying a home that hasn't been built yet is mostly the same as buying any other home — with one meaningful difference: time. Instead of thirty days between contract and keys, you may have six months or more. Almost everything that feels unfamiliar about new construction financing traces back to that longer window.
Here is the short version of what changes, so nothing in the next few months catches you off guard.
The timeline is longer
A resale closes in roughly thirty days. A new home can take six months or more, so your file stays open much longer.
Your documents get refreshed
Pay stubs, bank statements, and credit are updated closer to closing. It is routine, not a sign something is wrong.
Rate conversations happen earlier
Because of the long window, when and how you lock your rate is a real decision rather than a formality.
The price can move with your choices
Selections and upgrades add to your purchase price, which is why the design center visit is also a budget conversation.
The appraisal is based on plans
Your home is valued from the plans and specifications, with a final inspection once it is finished.
Communication matters more
With a builder, a sales counselor, and a lender all involved, keeping everyone informed is what keeps the process calm.
The journey
Your timeline, start to finish
- Step 1
Get pre-approved
We review your income, credit, and savings and give you a real number to shop with — plus an honest monthly payment estimate, not just a maximum.
- Step 2
Choose your homesite and plan
You pick the community, the lot, and the floor plan with your builder's sales counselor, and sign your contract.
- Step 3
Make your selections
At the design center you'll choose finishes and options. Anything that changes the price should come back to us so your approval stays accurate.
- Step 4
Construction begins
Permits, foundation, framing, mechanicals, drywall, and finishes. Your builder will share milestone updates along the way.
- Step 5
Appraisal and rate decisions
The home is appraised from plans and specifications, and we finalize your rate strategy based on the delivery date.
- Step 6
Final documentation
We refresh income, asset, and credit documentation so everything is current as of your closing date.
- Step 7
Walkthrough and closing
You walk the home with your builder, note any final items, then sign at settlement.
- Step 8
Move in
Keys, first payment date, and your builder's warranty process — all explained before you drive over with the truck.
Side by side
New construction vs. buying a resale
| Buying a resale home | Buying new construction | |
|---|---|---|
| Time from contract to keys | Roughly 30–45 days | Often 6+ months, depending on the builder |
| Condition at contract | You see exactly what you're buying | You're buying from plans, a model, or a home in progress |
| Price changes | Set at contract | Can change with selections and upgrades |
| Document updates | Usually one round | Refreshed as the closing date approaches |
| Rate strategy | Short, simple lock | Longer window; lock strategy is a real decision |
| Repairs | Negotiated with the seller | Handled through walkthrough items and builder warranty |
While you wait
Four things that keep the process smooth
Keep your credit steady
No new cards, car loans, or financed furniture until after you close. It is the number one avoidable problem.
Save receipts and statements
Large deposits need a paper trail. Keep records of gifts, bonuses, and transfers as they happen.
Tell us about job changes
A raise, a new role, or a switch to self-employment can all be worked around — as long as we know early.
Budget past the purchase price
Window treatments, landscaping, and appliances are common new-home costs that catch people by surprise.
Frequently asked
Questions new construction buyers ask
How is financing a new home different from buying a resale?
The biggest difference is time. A resale closes in about a month; a new build can take many months. That longer window changes how pre-approval, rate discussions, and document updates are handled — the loan itself is often very familiar.
When should I get pre-approved?
Before you sign anything. Most builders ask for a pre-approval with your contract, and knowing your comfortable price range first makes the design and selections process far less stressful.
Will I need to send documents again later?
Usually yes. Pay stubs, bank statements, and credit are refreshed closer to closing because lenders verify your situation as of settlement, not as of the day you signed.
Do upgrades and selections affect my loan?
They can. Options added at the design center typically increase the purchase price, and some builders require deposits on upgrades. Tell your loan officer before you commit, not after.
How does the appraisal work on a home that isn't built yet?
The appraiser values the home from the plans, specifications, and selections, and usually returns for a final inspection once construction is complete.
What should I avoid doing during construction?
Don't open new credit accounts, finance furniture, change jobs without telling us, or make large unexplained deposits. Anything that changes your financial picture can affect your approval at closing.
What happens if the home is finished late?
Delays happen with weather, inspections, and material availability. The important thing is that your lender knows early, so any rate lock or document expiration can be managed rather than discovered at the last minute.
What happens at move-in?
You'll typically do a walkthrough with your builder to note any items to be corrected, then close and receive your keys. Your builder's warranty covers the items agreed to in your contract.
Educational information only. Timelines, program terms, and requirements vary by builder, community, loan program, and market, and are subject to change. This is not a commitment to lend. All buyers are subject to full underwriting, credit approval, and program eligibility.
No pressure, no credit pull to start
Let's talk before you sign.
A short conversation before you choose a homesite usually saves months of second-guessing. Bring your questions — that's what the call is for.