We all know the importance of being pre-qualified prior to making an offer. But there is something else you need to know too!
Many thanks to Richard Weisser for this informative post regarding the importance of being pre-qualified before making an offer. Many rules are changing all the time it is critical your lender knows what type of home you intend to buy.
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!
All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of Coweta Fayette Real Estate Better Homes and Gardens Metro Brokers, Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser REOS, E-Pro. licensed Auctioneer. 770-827-6225.
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