Does it matter where I get pre-approved?

7 Replies

I'm about to submit an offer on an out of state so I need to get pre-approved. If the offer is accepted, I intend to work with a local credit union for financing.

Does it matter where I get the pre-approval in the meantime? It looks like there are tons of ways to get pre-approved online, which is my preference.

I don’t think it matters but if I’m the seller and your pre approval letter is from quicken loans I wouldn’t even consider it

Why wouldn’t you use this to ‘test drive’ one of your local lenders?

It’ll give you an opportunity to talk to your loan officer and get a feeling for how they work. Are they easy to contact, get you what you need quickly, etc?

I’ve been very happy with US bank for out of state loans.  IM on my second now and will also be doing a third one with them.  

They’re only fee is 770 in underwritint and then usually .25-.5 points for origination.  

Biggest downside is they only do up 5 loans.