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Updated about 8 years ago on . Most recent reply

User Stats

164
Posts
32
Votes
Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
32
Votes |
164
Posts

Multiple Loan Pre-Approvals

Andrew Merritt
  • Rental Property Investor
  • Summerville, SC
Posted

I'm looking to purchase my first investment property soon and I'm currently getting pre-approved for a conventional mortgage.  Is it common to go to multiple lenders to get pre-approved?  I've already contacted two (my primary home is mortgaged through Quicken so I contacted them as well as another company) and I'm hesitant to contact more b/c I don't want my credit report to be pulled too many times.  Between the two companies that I've inquired with already, there's about a $100 difference in the monthly payment of mortgage, insurance, and taxes.

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