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Personal Finances / Buying or Selling a Home


Subject:  Help on new construction? Date:  6/13/2002  3:54 PM
Author:  PebblesK Number:  43485 of 129163

I have been lurking here for a while, and I have also done a search but didn't find exactly what I was looking for. Here is the situation: We are pre-approved (quite easily) for a conventional loan given current interest rates. The house won't be completed until Nov 1 more or less. So we can't really lock in on a rate. But we are getting a little bit of pressure to find a rate and lock in or something like that. I guess the builder wants to know we are serious (??), even though he's got some earnest money and we did go about the process of getting pre-approved, etc. Anyway, I'd just like to know what is typically done around new construction.

Any input welcome! Thanks in advance.

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