Buying a home may be the biggest financial decision you will ever make. Whether you have purchased a home in the past, or this is your first home purchase, finding the best financing solution to fit your individual needs can be a challenge. That's where Run Home Loans can help. Our lenders offer a variety of loan options all designed to get you into the home that you want - 15 year, 30 year, and even 40 year loan programs. All at very competitive low rates.
And at Run Home Loans we make it easy to get a great deal on your home purchase loan.
Answer 3 simple questions and get instantly matched with multiple prominent lenders who want your business. You compare the loan offers, evaluate your options and decide which loan is best for you.
This service is FREE and there's no obligation. Plus, you'll get a great deal on your home purchase loan!
Looking to Buy?
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Are you pre-qualified or pre-approved for a loan?
Before you begin to shop for a new home, you should set up a time to speak with us so we can figure out how much you can afford. This will put you in a better position as a buyer. That's when it is important to understand the distinction between being pre-qualified for a loan and pre-approved for a loan. The difference between the two terms will be crucial when you decide to make an offer on a house.
To get pre-qualified for a loan, we will collect information about your debt, income, and assets. We'll look at your credit profile and assess goals for a down payment and get an idea of different loan programs that would work for you. We will issue you a pre-qualification letter indicating the amount you are pre-qualified to borrow.
It is important to understand that a pre-qualification letter is just an estimate of what you are eligible to borrow, not a commitment to lend. Getting pre-approved for a loan gives you competitive advantage when the time comes to bid on a home because you have been approved for a loan for a specified amount.
Get Pre-Qualified
To get pre-approved, you will complete a mortgage application and provide us with various information verifying your employment, assets and financial status such as W-2 forms, bank records and credit card statements. We'll review your mortgage options and submit your application to the lender that best meets your needs. Once the application process is complete you will receive a pre-approval letter indicating the amount your lender is willing to lend you for your home.
Get Pre-Approved
A pre-approval letter is not binding on the lender; it is subject to an appraisal of the home you wish to purchase and certain other conditions. If your financial situation changes (e.g. you lose your job), interest rates rise or a specified expiration date passes, your lender must review your situation and recalculate your mortgage amount accordingly.
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