Mortgage Answers / Loan & Home Types
The Short Answer
Choose the home that fits your full budget, move date and repair plans. A new home may offer choices and a builder warranty. An existing home lets you judge the finished home and location. Neither is always cheaper or free of repairs.
Finding and Buying the Right Home. Compare the finished cost and your real move date.
Explore Your OptionsCompare new and existing homes.
A simple winner
Condition, timing and total cost matter.
Start with your priority
Explore a goal below. No contact information needed.
Focus on homes that can meet your move date. A promised date is different from a finished home.
Ask what must happen before you can move in, including any required approval to occupy the home.
Price temporary housing and storage. Ask what the contract says if the date changes.
Compare completed new homes with existing homes that fit your timing.
Choices can add cost and time. Compare the full written price before selecting upgrades.
Get a list of standard features and extra charges for the exact lot and floor plan.
Choose a dollar limit that leaves room for closing costs and savings.
Ask the lender how upgrades and deposits affect your loan and cash needed.
Age alone cannot tell you repair costs. Compare condition, coverage and money left after closing.
Ask an independent inspector about the home and any specialist checks needed.
Check what any warranty covers, excludes and requires you to report.
Leave money available for repairs and maintenance with either home type.
More than one path
Tap a card to see what matters.
Ask what must happen before you can move in, including any required approval to occupy the home.
Price temporary housing and storage. Ask what the contract says if the date changes.
Compare completed new homes with existing homes that fit your timing.
Get a list of standard features and extra charges for the exact lot and floor plan.
Choose a dollar limit that leaves room for closing costs and savings.
Ask the lender how upgrades and deposits affect your loan and cash needed.
For a new home, ask what the base price leaves out. Lot charges, upgrades, landscaping and window coverings can change the total. For an existing home, price needed repairs before you commit.
A home still being built may face delays. A completed new home may have a different timeline. With either type, review inspection options, insurance costs and contract deadlines. A new home can have defects too.
A new home can have defects. Ask about independent inspections and the builder's access rules before signing.
No. Compare the full home price, loan costs, payment and offer conditions. An incentive is not guaranteed.
We were amazed at how quickly Troy closed our home loan. His speedy communication saved us so much time.
Willa Henderson
Fayetteville, NC
We were blown away by how fast and seamless our closing process was with Troy. He locked in a great rate quickly and handled every detail so we could move into our home on schedule!
Yara Mansfield
Show Low, AZ
Troy and his team got us to the closing table in record time. They were super efficient and kept everything moving fast!
Victor Salgado
Boulder, CO
Every buyer's situation is different. Let's find the right path for you.