First-time · Build or buy
New construction vs resale
Same buyer. Different clock. A spec home in Heath and a 1920 in Steubenville do not underwrite on the same calendar.
Resale
The house exists. Appraisal can be ordered when the contract is signed. Inspection finds the furnace. You close on the date already printed. This is the default first-time file in the Ohio Valley and most of Licking County.
New construction
The house is a contract and a dirt pile, or a spec that is 60% done. We need the builder agreement, specs, and a completion timeline. The appraisal may wait for a later stage. Rate locks expire. Occupancy certificates show up late. We build the file around that instead of pretending it is a two-week resale.
What to send on a build
- Fully executed builder contract and any change orders
- Plans, specs, and the options you actually bought
- Estimated completion date — the real one
- Whether the builder is offering a rate buydown or closing credit
Questions
- Can I lock a rate on a house that is not built yet?
- Sometimes, for a window. Long builds burn through a lock. We talk about a lock, an extension cost, or waiting until the builder is closer to completion. Do not assume a 30-day lock covers a nine-month build.
- Is the builder’s lender required?
- Almost never as a legal requirement. Incentives sometimes make their lender cheaper. We will price our file against that incentive so you can see the real difference.
- What if specs change after I apply?
- Tell us. A finished basement that was not on the contract, or a garage that disappeared, changes value and sometimes the loan amount. Silence is how files reopen two days before closing.
Keep reading
More first-time guides
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Before you tour
Get ready to buy
What “first-time buyer” means, how debt-to-income works, and what to stop doing 60 days out.
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Paperwork
Documents and where to find them
Paystubs, bank PDFs, tax transcripts, rent history, and how to pull each one without a scavenger hunt.
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The money
Down payment and cash to close
Earnest money, closing costs, seller credits, gifts, and Ohio down payment assistance — one number, not five.
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The payment we count
Student loans and a mortgage
Deferred, income-driven, parent PLUS, and why paying them off mid-file can backfire.
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Income that is not a W-2
Self-employed and 1099 buyers
Two years of returns, add-backs, a current P&L, and why a brand-new LLC does not qualify you overnight.
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Two names
Buying with a partner or parent
Who goes on the loan, who goes on title, occupancy rules, and when a co-signer actually helps.
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The house type
Condos, manufactured, well and septic
Warrantable condos, titled manufactured homes, private well, and septic — what kills a file before the appraisal.
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House hack
Owner-occupied 2–4 units
Live in one unit, rent the others. How FHA and conventional treat rental income on a first purchase.
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The stretch
From offer to keys
Inspections, appraisals, insurance, underwriting conditions, and closing day in this market.
Start here
Send the builder contract
New construction in Heath, Pataskala, or anywhere else — call (740) 314-5324 before you sign a lock you cannot keep.