Ok, we are going to go Johnny Manziel on Real Estate and talk about “show me the money”. Of course this is the most uncomfortable conversation you can have with anyone whether you are at church, in a marriage or buying property. People love to go out and look for a ranch or house when they have no idea really and truly what they can afford or buy. Getting qualified and understanding the type of loan that is required to purchase, whatever it is you are looking for, is the first step and the most important step. Why go out and look at a piece of property and fall in love with it just to find out you can't afford it? Plus in today’s market, if you do not have a pre-qualification letter attached to your contract offer, most sellers will not even consider your offer. Why let someone tie up your property and take it off the market when your not even sure they can get a loan? As a buyer, you have to be able to put yourself in the shoes of the seller because if you get the house or property bought, you more than likely will be one some day. Lets talk about getting qualified and the different types of loans that are available for the different types of properties.
Lets start with the types of loans that are available to purchase a home, whether it is a house in town or a rural home on some land. There are four main products out there and a buyer’s circumstances will determine which one they may be able to use.