u/Key_Philosopher_3657

Wife and I just finished our design center meeting for our new build. Another deposit paid, yay!

Question is about these deposits. So we paid a deposit for the builder (5k), a 25% deposit on builder upgrades (11k) and 25% deposit on design center upgrades (5k).

Will these deposits be applied towards closing?
Example: $70K to close, including all fees and down payment. Would we now only have to bring 49k cash to the table?

I reached out to my lender, but wanted to post here in the meantime. Thanks.

Wife and I are house shopping. Loan will be in her name only as I have credit issues. She makes about 90k and I bring in 110k gross. She got approved for 480k. Since this is based on her sole income, and we have minimal other debt ( school loans and 1 credit card) should we be okay to max out our purchase?