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Updated 9 months ago on . Most recent reply

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9
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1
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Jeff Daring
1
Votes |
9
Posts

Can a seller see if I am approved for a mortgage through multiple lenders?

Jeff Daring
Posted

I am under contract for my my first property, which would also be my primary residence, and was pre-qualified/approved through lender A which is on the contract. There is a mortgage contingency on the contract. If I am also pre-qualified/approved with two other lenders, B and C, and lender A denies financing, can the seller see that I am approved with other lenders?  Essentially I want to know if the deal can be killed at my discretion as soon as lender A denies financing or if I would then have to get denial letters from lenders B and C as well to kill the deal.

Most Popular Reply

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218
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165
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Nate Herndon
  • Lender
  • Springfield, MO
165
Votes |
218
Posts
Nate Herndon
  • Lender
  • Springfield, MO
Replied

Jeff - the seller will only know what you tell them. If you haven't provided prequal letters from B and C, you will not have to provide denial letters from those lenders as well. The only way a seller would have that information is if you physically provide it.

If you have only disclosed prequalification through Lender A, you would only need to provide a denial letter from that lender.

  • Nate Herndon
  • [email protected]
  • 417-605-2196
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