Getting pre-approved first also protects your deposit. If you sign first and the loan does not work out, the deposit can be at risk.
Do I need to be pre-approved before I sign a contract on a new home?
Usually, yes. Most builders want to see a pre-approval before you sign, and it tells you what you can spend before you pick a home.
More questions
- How long does it take to buy a new construction home?A home that is already built can close in about 30 to 60 days. A home that is not built yet can take several months.Read the answer
- What are the steps to buy a new construction home?Talk to us, get pre-approved, pick your home, sign the contract and pay the deposit, get the home inspected, then close and get your keys.Read the answer
- Will you help me get my new home inspected?Yes. Your agent tells you which inspections to get, schedules them, goes over the report with you, and works with the builder to get every item fixed.Read the answer
- Do I need an inspection on a brand new home?Yes. A new home can still have problems. Your own inspector finds them while the builder still has to fix them.Read the answer