If you need to switch loan programs after getting preapproved — from a conventional to an FHA loan, for example — you’ll likely need to start the preapproval process all over again with a new loan application. Doing this would likely delay your closing and change the interest rate and terms of your loan. Different mortgage options also have different down payment requirements. To help avoid these kinds of delays, identify your ideal loan type near the beginning of your home buying process. A knowledgeable loan officer will advise you on your best mortgage option upfront. Find a new loan professional if you’ve found they steered you in the wrong direction – for instance, you’re a veteran or are buying in a rural area and he or she suggested an FHA loan instead of a zero-down VA or USDA loan.