re: New home construction question

Depends on what the household income will be made of. If you both are “employed” and get paid wages, probably 2-3 months paychecks. Sometimes proof of funds letter from your banking institution for large chunks of cash you will be using for down payment. If either of you is self employed be prepared for 2 years of tax returns and a lengthy process. If this is the case, find a local loan officer (a referral is usually best) you can form a relationship with. That way they can communicate or clear up any uncertainties with underwriting. If your income is pretty basic, so will the approval process - just shop rates in that case.