How to compare lending institutions?

[Francesca S.]

2 Questions about loan applications !

1. I understand that I should compare numerous lending institutions and agents. Does that mean I fill out all their full credit applications (not just the short pre-qualification application) and compare the numbers they come back to me with? In general, how many of these applications should I be filling out. I have 4 lending institutions that somehow fell into my pocket...Do I proceed with an application on all of them? More?

With this many lending applications, my co-borrowers are concerned that we are throwing our important information everywhere...Is there truth in this concern? Or not?

2. A  lot of articles say to avoid bad mortgage lenders. But how can I tell what is a good or bad lender? What happens if you are dealing with a bad mortgage lender (other than you are getting a bad deal?)

Thank you!