| Pre-qualifying for mortgage loans in order to shop around? |
|
|
|
|
|
Elmira Nancy
Preferred Member
Cash: $ 22.65
Posts: 116
Joined: 01 Dec 2009
|
| Pre-qualifying for mortgage loans in order to shop around? |
 |
|
Is pre-qualifying for a mortgage loan the way to compare loans? I am a first time home buyer and want to understand the best way to shop for a loan. Then if I chose a loan and wanted to get pre-approved, how long does it take to get approved before I can put a bid on a house?
TradeStation Review
|
Mon Feb 08, 2010 9:35 am |
|
|
coaster
Senior Member
Cash: $ 895.55
Posts: 4414
Joined: 11 Oct 2005
Location: Wisconsin
|
The one danger in shopping around is generating too many requests for credit reports. Too many credit checks is a negative input on your credit score. So don't do it until you're ready and you're serious, and then do it in a fairly short time....less than a month.
Bye Bye Bums
|
|
Mon Feb 08, 2010 5:25 pm |
|
|
|
