You can get pre-approvals with different lenders, the problem is it takes time and effort. What you want to do is get an approval with a broker who will shop the deal around for you to all the lenders and get you the best rate. Then you can still look around for a better rate, tell your broker if you find something and see if he can match or beat it.

You can but there is no point. It is bet to hire a mortgage broker who will search all lenders to find you the best mortgage rate. The broker will search through all the lenders using a mortgage broker software and see who gives the best rate. Then you can take this offer to your home branch and see if they can beat it. This is the best way to obtain the lowest mortgage rate.

Every time the bank will request your credit information, your score will drop. So you have to be careful how many times you should do it. You don`t want to have to many requests to the Credit Bureau.

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We live in new jersey and put an offer in on a short sale house a month and a half ago. the sellers accepted our offer within 2 days,we have been waiting for bank of america to respond to our offer. yesterday the realtor called us saying that the bank requested an updated pre approval for the morgage,the realtor went on to say that it sounds good and we should hear something in a few days in regards to them accepting our offer or not. now today our attorney calls us and asks for our social security numbers and birthdays,he went on to say that he believes the bank is just starting to look at our offer and wanted to make sure we still wanted to wait for an answer from the bank. he said we should hear from the bank in 30 to 45 days the earliest. we are a little disappointed that the realtor just told us the complete opposite yesterday,if anyone has any information as to what stage we are in,it would be greatly appreciated. this was a pre approved short sale asking 225.000 and we offered 211,000 including closing costs.

No one here can tell you if the offer is close to being accepted. Some banks act on short sale offers quickly and some take months. If you want to know, have your attorney or realtor call the bank and ask.