CT Green Real Estate

Empowering you to make Smart Decisions

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Benefits of Financing a New Construction Home

New construction homes can be quite attractive to a lender as they are a pretty safe bet.  For a buyer, this can result in a smooth financing process and a high percentage chance that your loan will close. This is especially comforting in a climate where financing a home can be quite rigorous.  Sometimes the builder will offer financing directly to the purchaser that can make the process of obtaining the loan even easier.

A new home has just obtained permits during the building process and has to show the town that it complies with the building code in order to obtain a Certificate of Occupancy. In fact because homes are regulated and monitored by the town while being constructed, you can avoid some additional inspections that might be ordered for older homes i.e. for the septic. When an older home is inspected some of the results may raise a red flag with the bank, i.e. mold or asbestos.  While these things can be remedied, health concerns can make loan processing that much more complex.
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Benefits of Getting Pre-Approved For A Loan

Getting pre approved for a loan is a worthwhile step to take when you make the decision to purchase a new Fairfield County home.  It is not that time-consuming and can be done over the phone.  The time you devote to this task upfront can save you a significant amount of time down the line and knowing how much your are pre approved for will enable you to make solid decisions.  You will know exactly in which price range you should search and ultimately in which price range you want to buy.

You may qualify for less than you think so why spend your time looking at homes that are above your head.  I’ve seen that happen and it made for a disappointing home search.  Conversely you may qualify for more than you think and this you will not know by simply doing the math yourself.  Real estate financing is available from many sources and a good mortgage broker will  not only have access to these sources, but will be knowledgeable about special programs and services that may benefit you.
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