PREQUALIFIED WHILE SHOPPING FOR LOAN?

[Thomas Garnett]

Hi Everyone, 

I am working on getting an idea of how much I can conventionally finance for my first deal. I have a list of local banks and credit unions that I am screening. I plan to narrow it down to 5-10 and then talk to their MLO's.  I have not started seriously looking for a property yet, but I plan to purchase a small multi-family to house hack. I have never owned a home, only rented. When I talk to the MLO's do I need to get prequalified for a loan when I am shopping for financing without actually pursuing a property yet? 

Thanks in advance!

Thomas