Multiple lenders options

[Alex Verdugo]

I'm a first time buyer and have several lenders I've talked to trying to get funding.  The first lender called my back and said the pre-qualification looks good and I'll be hearing from them soon about how much I qualify for. He also gave me my credit scores and they all seem good which leads me to think I'll get pre-qualified from the other lenders as well.

So my questions are:

1. Aside from possibly not being a good idea to jump into three different loans/ properties with little to no experience, is there anything wrong with using all three lenders to aquire three properties?

2. Do I have a responsibility to let the lenders know about each other and whats in their offers? 

3. I'm sure I can't do this but you never know unless you ask. Can I combine all three loans in order to buy a quadplex?

4. I know that I can get down payment assistance with one of the loans but what about the other two?

5. With the FHA loan I have to live in the property for one year out of the first five. Can I live in one property and move into the next property after the first year? Then move into the third in the third year?

6. Is it possible to have multiple FHA loans at a single time?

I know it's a lot to answer but I would really appreciate the help.