Financing in 11385>Question Details

Jph, Home Buyer in 11385

Do you owe a brokerage for a preapproval even if you don't follow through and use it to purchase?

Asked by Jph, 11385 Tue Aug 11, 2009

I am awaiting a preapproval letter from a brokerage for an FHA mortgage. Since seeking the preapproval I have decided to see what another boker has to offer. If I go with a loan from the second broker, would I owe anything to the first brokerage?

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Hi Jph. No, you won't owe a dime. Although you don't make mention as to how long it has been, go right ahead and check with another Mortgage broker. They do offer rather similar services and it is FHA but feeling comfortable with someone who will be an integral part of your purchase is priceless.

Best to you on your purchase.
0 votes Thank Flag Link Sat Jan 30, 2010
No, only an unsrupolous mortgage agent would charge you for a pre-approval letter. Also you are not obliged to get the mortgage from the company that first gave you the pre-approval. You can shop arounbd evev after your offer is accepted based on the pre-approval letter

Regards, Cy Gaydos Cell:609-509-0777; Cell2:609-651-6659

Visit our web site at http://www.cgaydos.remax-nj.com

Cyril Gaydos, Realtor Associate
realestate@cygaydos.com
Re/Max Greater Princeton
112 Village Boulevard
Forrestal Village
Princeton, NJ 08540-5760
Office: 1-609-951-8600
OffFax:1-609-951-9695
0 votes Thank Flag Link Tue Aug 11, 2009
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