Can I Submit Multiple Applications?
Yes, some credit reporting bureaus permit mortgage "rate shopping" by homebuyers without negatively impacting credit scores. However, submitting multiple applications does entail both advantages and disadvantages. You should carefully consider your mortgage goals before submitting multiple applications.
Tellus TIP:
It does not hurt to inform lenders that you are shopping around for loans. Nevertheless, you should be careful of how much you share with lenders about your mortgage application process.
- What Is Included in a Mortgage Application?
- How Long Do Mortgage Applications Typically Take to Complete?
- Does Applying for Multiple Mortgages Affect My Credit?
- What Are Some Benefits of Shopping for a Mortgage?
- Can I Qualify for a Mortgage with No Credit History?
- What Can I Do If My Application for a Mortgage Is Denied?