What should you compare?
Start with the full monthly picture: principal and interest, property taxes, homeowners insurance, HOA dues and applicable mortgage insurance. Then compare the full payment after any temporary builder incentive ends.
THE HOME FINANCING COMPARISON TOOL
New Construction vs. Resale: Compare the Payment, Not Just the Price
A lower purchase price does not always mean a lower monthly payment. Mortgage rates, builder incentives, taxes, insurance, HOA dues and mortgage insurance can change the comparison.
Run Your Comparison →Why new construction can look different
Builders may use financing incentives or temporary buydowns to reduce a buyer’s initial payment. Those incentives can make a higher-priced new home look less expensive per month during the promotional period. The long-term mortgage payment still matters.
Why resale can still win
A resale home may have a lower price, established tax history, different HOA costs or room for seller concessions. The right answer depends on the actual numbers for the two homes you are considering.
Important: MyMortgageLens provides educational illustrations, not a financing offer or lender quote. Rates, eligibility, taxes, insurance, mortgage insurance, fees and incentive terms vary. Confirm your actual figures with the appropriate lender and professionals.