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Podcast: Financial Residency
Episode: Mortgage Minute - My mind " New build vs Resale"
Description: This episode is sponsored by Resolve. A physician contract review and compensation data company bringing change to physician contracts. For 10% off, add FR10 when you sign up! Today Doug Crouse of BMO Bank discusses the differences between buying a new build and a resale home. While the processes are similar, new builds come with uncertainties such as fluctuating completion dates and potential rate lock issues. Crouse advises adding a 30-day buffer to rate locks for new builds to avoid expensive extensions if completion is delayed. He also emphasizes coordinating changes with appraisals to prevent unexpected co...