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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Can a person apply for a mortgage with different lenders at

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Can a person apply for a mortgage with different lenders at the same time? If so, what happens if a person gets more than one approval?
Thank you for your question and thanks for using JustAnswer.com.

Yes, you may apply for more than one mortgage with different lenders at the same time. If you get more than one approval, you will simply tell the banks you don't want to deal with that you no longer need the loan.

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Customer: replied 3 years ago.

thanks for the response. so if we can apply with multiple lenders, why is it that most people apply with one lender at a time?

They apply for one lender at a time, because when they run the credit report it shows on your credit report and can bring your score down. Also, your lender will want to know why the other lender ran your report, and then they will also want assurance that you did not take on any additional debt.

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