If you don’t have a loan, you can’t buy a home.

That is the mantra for home ownership in the fall of 2008.

The recently economic downturn has simply restricted borrowing. A prudent buyer will confirm that their loan program is still available before making an offer.

My suggestion is that you have your loan officer take a proactive measure and have the file fully approved before you submit any offer to purchase. In so doing it will help negotiations and at times beat out other offers that are on the table.