New Construction Home Value

Asked by Daniel, Paoli, PA Thu Dec 20, 2012

If you buy new construction in phase 1 and by the time it's built the same house is selling for 10% more does it have an impact on your loan (putting down 10% so would this mean it would be 20%)?

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Cedric Lewis, Agent, MD,
Thu Dec 20, 2012
Daniel, that is a great question. The short answer to your question is no. Your down payment will be based on your contract purchase price. The positive aspect of purchasing a home early in the construction process is that you could possibly move into your home with instant equity. The builder typically will increase the price as they enter new phases,
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