Closing costs Earnest money deposit Inspection New Construction 
HomeLight
AUGUST 9, 2022
Otherwise, earnest money will be held in an escrow account until closing, and the amount is then applied toward your down payment at closing. Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. Escrow fee.
HomeLight
SEPTEMBER 1, 2022
Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. As far as home styles go, new construction is trending toward a country style, says Raymer.
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