Can I apply a mortgage at multiple banks?

Question

Can I apply a mortgage at multiple banks?

Answer 1

In my personal experience, a much better way to do this is to go through a reputable and professional mortgage broker. By doing so, you will be able to communicate with real people who understand your particular circumstances. They will be able to give you feedback in advance, so that you will know what your chances are, and what you may qualify for, before even applying.

They have broad resources, and will easily match up your needs with a lender before hand. After closing, your mortgage would then be sold to another lender - though in my cases, they were already bought before closing.

To protect your credit score, it's not a good idea to have multiple applications going at one time.

Answer 2

Each time you request credit, it is reported on your credit report and eventually hurts your credit score.  A better idea may be to use lendingtree.com where one application is sent to multiple banks.

Best of luck to you - it can be difficult to get a mortgage these days.

Answer 3

Sure. Not only can you, but you should to make sure you get the best deal. Good luck.