Mortgages for Pre-Construction Homes
With pre-construction you are approved years before closing, so plan for requalification and possible rate or appraisal changes.
Before you sign
Get a pre-approval so you know your price range. Some lenders offer extended rate holds for new builds; ask a broker what is available.
Before closing
Your lender re-verifies income, credit and the property's appraised value. Avoid large new debts and job changes if possible in the months before closing.