We all know the importance of being pre-qualified prior to making an offer. But there is something else you need to know too!

Most home buyers know that the first step when purchasing a home is to secure financing. What many may not know, is that you not only need to be pre-qualified but you also need to know the TYPE of loan that will be obtained.

Some loans add additional burdens on the contractual parties, and it is very important that everyone knows their duties and responsibilities at the time of agreement.

Changing the type of loan in midstream often requires amendment and mutual agreement, and can delay the approval process.

The best time to “shop” for a loan is prior to making an offer. A qualified loan officer can assist you with all the options and the ancillary requirements.

And getting all of your “ducks in a row” first can save a lot of headaches down the road!

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