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Ask a real estate pro: Can a builder terminate contract for new home after I missed deposit deadline?
A reader asks real estate attorney Gary Singer: I inadvertently missed a deadline for a second deposit on a new home. Can the builder terminate the contract?
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*Assumes 2.799% APR, 20% down payment, and conforming 30-year fixed rate first mortgage on a single family, primary residence. The monthly payment you enter includes only principal and interest. Additional required amounts such as taxes, insurance, home owner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Not all individuals will qualify for a mortgage loan based on the payment entered. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. **Posted APR is based on Mortgage Assumptions
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