Compare the builder’s affiliated lender and an outside lender using the same price, down payment, term, credit profile, lock period, taxes and insurance. A headline credit alone does not show the complete result.
Contract deposits and cash planning
Builder contracts can require deposits well before closing and may use different refund terms from a standard resale contract. Confirm the deposit schedule, upgrade payments and how those funds will be credited on the final Closing Disclosure.
Incentive structure
Credits may be applied toward eligible closing costs, a temporary buydown or permanent discount points. Compare which option provides value during the expected ownership period and whether unused credits can be applied elsewhere.
Rate-lock timing
A home that is months from completion may require a longer lock, extension options or a float strategy. Understand lock terms, extension costs and what happens if construction is delayed before committing to a financing path.
Taxes, CDD and HOA
Land-only or partial-year tax records can understate the future payment. Include a reasonable completed-home tax estimate, CDD assessment, HOA dues and applicable insurance when comparing affordability.
Final approval and completion
Income, assets, credit and liabilities may be updated before closing. The property must also be complete and satisfy appraisal and program requirements. Avoid opening new debt or changing employment without discussing it with the mortgage team.