When you purchase a newly built home, you typically sign the purchase contract several months in advance.

The purchase price for the property at that time is usually at prevailing market rates.

If the market value of the property rises significantly before the property is completed, your house will be worth more than you pay for it when you move in.

This is built in equity.

You may be able to use this equity to refinance to a lower payment.

Refinancing

This means that after you move in, you can opt to refinance again for a new loan. Some lenders will allow you to use your current appraised value the day after purchase. These lenders will typically only offer a