Once you sign a purchase agreement and pay an , the technical milestones begin: What to Know About Buying a New Construction Home

: Already under construction or finished. Faster move-in, but choices like flooring and cabinets are likely already made by a designer.

: A common safety net where you spend no more than 30% of gross income on your mortgage, have 30% of the home price in savings, and limit the home price to 3x your annual income.

: Lenders evaluate your Capacity (income/debt ratio), Capital (savings/assets), Credit (score and history), and Collateral (the home's value).