Map the real purchase price
Base pricing might exclude lot premiums, design-center selections, appliances and upgrades. Homebuilder inventory and specifications can change before completion. Ask for the complete signed scope and timing rather than treating the model-home price as an all-in number.
- Separate base price, lot premium and upgrades
- Confirm what the builder includes at delivery
- Account for landscaping, window coverings and appliances not included
Compare finance terms on equal ground
If builder incentives depend on a preferred lender, obtain written conditions and a comparable outside quote. Compare APR, points, rate, credit eligibility and rate-lock extension pricing. A temporary buydown changes early payments but is not the permanent loan note rate.
- Ask for comparable Loan Estimates when applicable
- Check whether a lender credit offsets a higher rate
- Know when and how a builder incentive expires
Plan for the completed home's carrying costs
New construction may have a low land-only or partially completed current tax bill. The future homeowner's assessment can differ significantly. Verify HOA or CDD assessments, insurance for the finished structure and any flood or wind requirements.
- Estimate taxes for the completed property
- Confirm current and planned community assessments
- Get an insurance quote before locking your budget
Compare the upfront pieces
Enter promotional credits you believe would be usable under each written offer. This comparison does not calculate financing costs or assume upgrades equal cash.
These are simple comparison figures, NOT actual purchase prices or cash-to-close quotes. Rate, discount points, APR, temporary buydowns, lock duration, title fees and credit restrictions could reverse the apparent advantage. Incentives cannot automatically be applied against every expense.
Official information
Terms, loan rules, funding and eligibility can change. These references are for education; always confirm the current written terms with the appropriate agency and lender.
CFPB: compare loan offers ↗