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Can I go to more than one lender for a pre-approval? Should i begin with my credit union?

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September 07 2013 - New York
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Answers (5)

Not only can you go with more than one lender it would be in your best interest to do so!  You may incur inquiries which can hurt your credit scores so make sure to try your Credit Union first then possibly one or two others.

I work for a Direct Lender which specializes in JUMBO loans.  But I also have the ability to work with Credit Unions and Wholesale Lenders like a broker which gives me more product options and shopping options for rates.

If you have any questions or concerns feel free to contact me anytime!

I wish you the best of luck and hopefully my answer helped.



 
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September 10 2013
Where are you located?  In my area most sellers want buyers who are working with "Direct" Lenders. WJ Bradley has been great in my experiences... I have an amazing contact I send everyone to if you're in the So Cal area. Best of luck! 
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September 08 2013
Hi....Yes, you can go to one or more lenders.  Honestly, I feel talking to a reputable Real Estate Agent first and getting a good recommendation is the best advice.  Reason being, they usually have relationships with good lenders as they use them all the time.  For instance, maybe going to the Credit Union can pre-qualify you, but if the lender doesn't call back in a timely manner or if they are hard to get in touch with, this can make for a bad experience.  Not saying it always is the case, but the Professional wants your experience to be successful and smooth and I feel that is the best route, with someone highly recommended and used on a regular basis...Thanks..Lisa
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September 08 2013
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When you get pre-approval from a lender they will look at your credit rating. This leaves a foot print which all lenders can see. If you get lots of pre-approvals without buying something then lenders will start looking at you saying well lender 1,2 and 3 all looked at you too and then they assume they wouldn't finance you (even if they would) this will make them start questioning if they should too. 
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September 07 2013

You are able to go to as many lenders as you want, but do you really want to do that? 

Talk to a few and see what fits for you.  Credit Unions are okay, but do some comparison shopping for not only rate, but closing fees with that lender. 

No matter what, you are going to work with someone you like anyway, right?

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September 07 2013
 
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