I want to purchase a home next year. When should I apply for financing?
Want to purchase the home in a subdivision and the homes will not start being built until June/July of 2016.
When purchasing new construction, you'll sign a contract and put down a deposit. Apply now to let the builder know that you can fulfill the contract when the time comes. You wouldn't want to put a deposit down without knowing that you can actually get the loan. Rates can't be predicted that far out so give yourself a buffer. If your lender tells you that your debt to income is in a border-line range, then ask him to qualify you at 0.5% or so higher and see if it still works. | 12.09.15 @ 00:21