This is a YouTube video titled "👷 Financing New Construction (pt. 1) 👷♀️" containing a monologue by Rachel Rodgers discussing common misconceptions in the housing market, specifically about financing new home construction and builder's lender timelines. The content was created on July 19, 2021.
Things in the housing market that you may not know about. When building a new home, it generally takes 6 to 12 months until completion. Builders always want to know that the buyer is pre qualified, so they generally send them to their lender to get that done. Makes sense. They want to know that when the house is completed, financing is ready. One huge problem, huge misconception, is that the builder's lender is a year away. There's no real firm numbers in any way because you have to do that within the month or two of closing. So many people take themselves off the market before they know what they're agreeing to.
