This question is almost 10 years old, but maybe someone else will have the same question. You may be able to assign your contract to a new buyer, or you may still be able to back out and keep your earnest money based on not being able to get a loan on terms that are satisfactory to you. My guess is the most you would lose is any construction deposits you have already paid. I hope you are working with your own buyer's agent. Too many buyers use the agent in the model home. That agent works for the builder. You need one working for you. The original author of the post was concerned about her specific builder. The builder mentioned has a good reputation in our market, but again if you use the model home agent, you have to know they work for the builder and are required to do what is best for them throughout the sale process.