Home Buying in Philadelphia>Question Details

Jcraw551, Other/Just Looking in Philadelphia, PA

Is it recommended to get pre approved by 2 mortgage companies before buying a house or condominium?

Asked by Jcraw551, Philadelphia, PA Fri Jun 29, 2012

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4
Alan Openshaw’s answer
Hello Jcraw,


I have had many people come to me that were pre-approved and then had their mortgage fall through because the lender didn't know what they were doing.Find a good lender that asks all of the right questions. Like me...If I pre-approve you we will go to closing.

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
0 votes Thank Flag Link Fri Jun 29, 2012
I recommend that you talk to a few different lenders before you get pre-approved but you should aim to only be pre-approved once. The lenders that you consider should be those that are highly recommended by other home buyers you know, or an experienced real estate professional that knows the best in the business for different types of loan products. If you have already been pre-approved and are later referred to a lender more suited to your goals, a second pre-approval should not have a significant negative impact on your credit rating.

Feel free to contact me if you would like more information on the different types of lenders and loan products and which lenders are considered among the best in the area.

Regards,

Michael Garden

mg@michaelgarden.com

215 500 2981
0 votes Thank Flag Link Sat Jun 30, 2012
I would suggest that you do your homework and pick out the best lender before buying a home.I you start showing too many credit inquires it could damage you credit score.try and keep it simple and not over do things.However when you do talk to a lender do not be shy about asking about all of there fees,rates and points. if the lender is too busy to help you you do not want him
0 votes Thank Flag Link Fri Jun 29, 2012
It is recommended to get approved by as many mortgage companies that it takes until you are happy and satisfied:
If you got the GFE, (good faith estimate) from at least two, you could compare them and see where you stand.

Good luck and may God bless
0 votes Thank Flag Link Fri Jun 29, 2012
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