Also I want to make one thing very clear. You almost certainly do not have ANY actual GFE from any lender at this point. A GFE is called a good faith estimate. The government though has mandated that a GFE not actually be an estimate any longer in most sections. Once a GFE goes to a client it's pretty much set in stone. Lender fees can't change. Attorney fees can only change 10% in total and the transfer and recordation taxes cannot change. I think I can speak for all lenders in that you don't get a GFE until you have committed to a lender and the loan is locked. Before that you get something that looks and acts like a GFE but is NOT binding any way shape or form. Now a good lender tries to get it right and include everything that you'll see on a final GFE at settlement. That's the right way to do it. It's called an IFW but many lenders but again you won't get a GFE until you make a full application and commit to a lender. A small but crucial point. But yes you can apply to all the lenders you like and you can cancel on the rest and pick one but you should be up front with all of them about what you are doing. Shopping lenders is something you need to do but if it were me I wouldn't lock you until you made a firm commitment to me. I hope this makes sense and please let me know if I can be of assistance further. I can also show you everything that should be on a cost break down. It's not complicated, just takes a little time.
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states
Gather some information from your Realtor including county of home, current tax rate, sales price and any incentives you may have received such as closing help. Present that to the lenders in question and have them prepare a cost analysis for you. This will break down in a clear format all fees and charges for the lender. Be sure to make sure that they are all using the same transfer tax rates, closing costs (such as title insurance and title company fees, appraisal, survey, etc.) and then sit down with your Realtor or one of the lenders to review and understand the full terms.
That should make your decision easy. My best recommendation is stick with a local lender or credit union. Don't use internet sites to choose a Realtor. Once you are under contract to purchase your lender will be the most important link in getting you to closing. If there are issues you want someone close by that you can meet in person.
In case you have several pre approval letters, approach the different lenders to verify the conditions of your possible loan based on the information that your will provide about the property.
Sometimes the terms of approval might change because of certain conditions of the property.
It will not be advisable to run around applying for the loan at every door you see. That is a task that should be done before looking for properties.
You can always call for free consultation.
Good luck with your future purchase