I decided to move forward and purchase a home that would be a new build. I chose a third car garage and 4-sided brick as upgrades, totally $ 22k. I just don’t like the Hardiplank siding. I have been pre-qualified for $ 350k. And, was moving forward with pre-approval. However, now I am being told I need to pay $ 5k in earnest money and $ 17k towards the upgrades, a total of $ 22k at the beginning of the build. 4-Brick homes are not the standard for this community. Hardiplank is.
My rental home we had built 15 years ago only required $ 1500 in earnest money and nothing towards the upgrades.. I know times have changed; however, I am quite disappointed 1) it was not disclosed until I had already put in my application for pre-qual and got my credit scores (by the way my scores are listed below) and 2) I am giving up a large sum of $ , 4 months early (planning to withdraw from my 401k; thus, I will be making payments 4 months early).
I cannot help thinking there is a reason for this obstacle.
Any comments to help me make a decision about this.
MyFICO Mortgage Scores: EQ 756, TU 760, EX 804 (I pulled them a hour before they did)
Mortgage Lender Scores: EQ 757, TU 760, EX 804