Pre-approval Query
Hi, I already have a pre-approval from Ally Bank. I also approached Chase but they would not proceed without a hard credit pull. So I had to put it on hold(rates were not any better than Ally's anyways). Our agent had suggested we try out with Wells Fargo, Chase, or BoA. Is there any value in this? OR can I count on Ally and go ahead with home shopping and making offers?
New
glhhfs Feb 17Hello, Do you know any lender who would give pre approval without credit pull? I had one who did it before but he is not with the credit union anymore! Location: Bay Area
Use the preapproval to make your offer. When you go under contract, apply with other lenders. No reason to have it on your credit report unless you're moving forward.
Oh and make sure there's at least one small/local lender. Those guys are usually easier to deal with, and everybody will give you similar rates. So it's good to have someone you can go back and forth with. Also, ask for official loan estimates as soon as you get the approval. That's the only way you can compare lenders without them introducing fuckery