FORT MYERS MORTGAGE BROKER
Buying a New Construction Home in Southwest Florida
A newly built home from a builder is usually financed with a standard purchase mortgage, but the timeline and paperwork are different from a resale. Ryan Meyer helps you get pre-approved before you sign, compare your financing options and plan for the build schedule. If you’re building on your own lot instead, see Construction Loans.
- Buying from a builder in Lee and Collier
- Compare your options before you sign
Talk With Ryan
Let’s talk about the home you’re buying from a builder.
The Builder’s Preferred Lender vs. Your Own Lender
Builders sometimes offer incentives for using their preferred lender. You can still compare offers from other lenders. Each lender you apply with must give you a Loan Estimate, a standard form that makes offers easier to compare. Weigh any incentive against the full cost shown on each Loan Estimate.
Plan Around the Build Timeline
Construction schedules can change. Before you lock a rate, ask how long the lock lasts and what happens if completion is delayed. Ryan explains the options for your situation.
What to Gather
- The builder contract and estimated completion date
- Records of your deposit payments
- Your upgrade and options selections
- Pre-approval documents: income, assets and credit
Before Closing
Before closing, your lender confirms what the builder still needs to finish, such as final inspections and occupancy approval. Homeowners insurance, and flood insurance where required, needs to be in place too.
Loan Programs for New Construction
Conventional Mortgages, FHA Loans, VA Loans and Jumbo Mortgages may be used for new homes, depending on the program and the property. Some programs have extra requirements for new construction, so Ryan checks before you sign.
Frequently Asked Questions
Frequently Asked Questions
You can compare outside financing. If an incentive depends on using the builder’s lender, compare that incentive with the full cost shown on each Loan Estimate.
Before you sign the builder contract, so you know your budget and options.
Ask about rate-lock length and extension options before you lock. Ryan can walk you through them.
Depending on the program and the property, yes. Some programs have extra requirements for new homes, so check before you sign.
No. A construction loan finances building a home yourself. Buying a finished home from a builder is usually a standard purchase mortgage.
Let’s Talk About Your Next Move
Buying From a Builder?
Talk with Ryan Meyer before you sign so you can compare your financing options.
Prefer to call? 239-910-4980
Important information about this loan program
This page explains how this type of financing generally works. It is general information, not an offer or a commitment to lend. Eligibility, loan amounts, down payment requirements, interest rates, annual percentage rates (APR), closing costs and other fees, mortgage insurance and repayment terms depend on your credit, income, assets, the property and the lender’s underwriting, and program guidelines can change without notice. Mortgage loans may be arranged through third party providers. This website does not quote rates or APRs. Your actual rate, APR, payments and costs will be provided in the lender’s written loan disclosures. Not every borrower qualifies, and approval is not guaranteed. Licensing and company information appears at the bottom of this page.