Commitment letter signed, can I still back out?
FTBH here. We got pre-approved for $630k and ended up purchasing a $450k pre-construction townhome. Recently, I saw that the same builder has a $513k single laned home available, and it’s only about a $400/month difference. Now I can’t help but feel a bit of regret.
Both are still pre-construction with expected possession around Winter 2026/2027, and we’ve already deposited the down payment to the builder. Mortgage commitment letter also already signed for our lender. I’m wondering if there’s any way to back out of the townhome purchase and ask the builder if we could switch to the laned home instead? Would we need to go through another credit check with the lender as well?
Realistically, I know the townhome would allow us to save more financially, but I keep thinking about the possibility of owning a detached home instead, and it’s honestly been haunting me a little.