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NEW CONSTRUCTION IN BREVARD

A builder incentive is only valuable when the full deal works.

Explore how to compare new-home packages without getting distracted by a headline credit. Use our worksheet for deposits, rate buydowns and lender incentives, then review the actual financing and timing.

Try the planning tool →Talk with Jesse
Locally focused on Brevard CountyJesse Griffith · NMLS #2023557Mortgage services: New American Funding
PRACTICAL LOCAL INFORMATION

Compare the whole offer—not one promotional number

A builder may advertise closing-cost credits, design-center upgrades, rate buydowns or a special lender promotion. Those features do not all have the same economic value. A lower sticker price, a permanent reduction in the financing rate, a temporary buydown and a cash credit can affect your initial cash and long-term cost in different ways. Compare offers with consistent loan terms and verified settlement estimates.

01

Builder deposits and completion schedules

Review the purchase agreement before paying a non-refundable builder deposit. Note construction milestones, deadlines for financing, inspection rights, upgrade selections, appraisal rules and what happens if delivery is delayed. A rate lock may expire before the home is ready, and extensions can add costs.

  • Separate lot premiums from base price and upgrades
  • Ask about deposit refund rules if financing or construction changes
  • Confirm rate-lock duration, extension fees and float-down restrictions
02

Builder lender versus outside lender

A builder's preferred lender may offer valuable credits, but the incentives can be tied to specific rate, loan, closing or title conditions. Obtain a comparable written estimate from an outside lender using the same price, loan program, rate-lock window, points and projected closing date. Compare APR and total cost as well as the payment.

  • Request a line-item Loan Estimate where available
  • Compare points, origination fees and lender credits
  • Check whether a temporary buydown ends with a higher required payment
03

Brevard property costs and timing

New-home valuations and payments still depend on tax assessment, insurance, flood exposure and HOA or community development district fees where applicable. Do not assume the builder's model-home tax bill represents the finished home's taxes after sale. Ask about warranties and inspections before closing.

  • Verify HOA or CDD dues and planned increases
  • Use completed-home tax and insurance estimates
  • Budget for landscaping, blinds, appliances and other exclusions
BUILDER OFFER WORKSHEET

Compare the upfront pieces

Enter promotional credits you believe would be usable under each written offer. This comparison does not calculate financing costs or assume upgrades equal cash.

Illustrative builder-side price plus upgrades less usable credits$417,000
Outside-lender illustration: $426,000

These are simple comparison figures, NOT actual purchase prices or cash-to-close quotes. Rate, discount points, APR, temporary buydowns, lock duration, title fees and credit restrictions could reverse the apparent advantage. Incentives cannot automatically be applied against every expense.

SOURCES AND NEXT STEPS

Research beyond this page

CFPB compare loan offers Florida DBPR licensing information Brevard Property Appraiser

Program rules, funding, listing schedules, rates and eligibility can change. Review official agency information and a current lender Loan Estimate. This page does not quote a rate, promise assistance funds or guarantee approval.

COMMON QUESTIONS

What should I know next?

Should I always take the builder's lender?

No. Compare the preferred offer and outside financing on the same terms, including credits, points, fees, APR and the time you expect to keep the loan.

Is a 2-1 buydown a permanent rate reduction?

No. A temporary buydown typically reduces the initial effective payment for a limited period. Qualification and the payment after that period depend on the underlying note rate.

When should I discuss the rate lock?

Early, especially if closing depends on construction completion. Availability and price of extended locks vary.

WHEN YOU ARE READY

Take the next step with a real person.

Ask a Brevard-based mortgage loan officer to work through your payment, closing costs, timing and options. Sensitive financial documents belong in the lender's secure application, not a general contact form.

Request mortgage guidance →Schedule a conversationStart secure New American Funding application ↗

Space Coast New Construction is an independently operated local educational website. Mortgage loan information and consultation: Jesse Griffith, NMLS #2023557, New American Funding. Equal Housing Opportunity.

Not a commitment to lend. All loans subject to credit approval, underwriting, program and property requirements. No guarantee of down-payment assistance, rate, savings or eligibility. This educational information is not financial or legal advice.

Jesse Mortgage HunterLender profile321-501-9579