---

Pre-approval with more than one lender

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Zennia Guest	Posted: Thu Jan 26, 2012 3:32 am    Post subject: Pre-approval with more than one lender Like 0 Dislike 0 Is it possible to get a pre-approval from one lender to make an offer on a house, but still shop for a better rate? Possibly go with a different lender? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
Niicss Joined: 03 Oct 2005 Posts: 4834 Location: New Jersey 508.88 Dollars($)	Posted: Thu Jan 26, 2012 3:54 am    Post subject: Like 0 Dislike 0 As far as I know, you can get pre-qualified from a number of lender but you need to get pre-approved from one lender. _________________ Good is the Enemy of Great.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Thu Jan 26, 2012 1:23 pm    Post subject: Like 0 Dislike 0 Zennia, you can certainly rate-shop even when you've been pre-approved by a particular lender. It's not fair to waste people's time and energy, which I hope you'll appreciate. The lender who is giving you a pre-approval will be counting on your loan to provide at least a part of his monthly income, and you'll be that much closer to putting another loan officer close to the brink for lack of income. Yes, it's your right to shop all you want; I don't suggest that reneging on a deal with the first lender is the way to go, however. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 514 Location: Australia 82.40 Dollars($)	Posted: Fri Jan 27, 2012 2:04 am    Post subject: Hello zennia, Like 0 Dislike 1 A mortgage broker works as a conduit between the buyer and the lender, the loan officer typically works directly for the lender. Most states require the mortgage broker to be licensed. States regulate lending practice and licensing, but the rules vary. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0