You should only get one pre approval but use your mortgage agent to do it so he can shop for the best rate using multiple lenders. You might want to get a pre approval at your home branch for a backup but its not necessary if you deal with a good mortgage agent.

Hello Jing, it would be best if you could approach a few different banks and see which one has the best rate for you. Getting a pre-approval is important to make sure the bank has reviewed your info and they are happy with what they see. There is no need for multiple pre-approvals as they will all pull your credit bureau and ask for your info each time. Please let me know what rate you are getting right now and I will check with my lenders if there is a better rate available. I can then get you a pre-approval from that lender to go along with the one you have now. It never hurts to shop around but dont let multiple lenders pull multiple credit bureaus, it could lower your score. I am available at any time to discuss this further Jing, give me a call. If any reader would like to discuss rates and pre-approvals please do not hesitate to call as well. Abraham Niyazi - Mortgage Agent - Lic#M08010640 - Centum One FInancial Corp - Lic 10758. Cell: 416-993-4082 Toll Free: 1-866-728-3708 http://www.centum.ca/abraham_niyazi/ I deal with 25 Banks/Lenders and can do mortgages across Canada except Quebec." 01:20pm Feb 8, 2011

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I am a first time home buyer. i paid everything that my mortgage broker told me to pay (outstanding debts, etc.) and showed him letters to prove it. he tells me" o.k. let me report this to the credit bureau and see what kind of numbers we get, i will get back to you in 72 hours." if 2 bureaus already had my score over 620, then what is he doing? please i need some insight. (by the way), thanks for all of the great comments and suggestions to my other questions regarding this matter.

Make sure you are talking to other brokers than just one. They are all out to make a buck. Shop it around. Your credit score will not go down if different mortage people pull your credit. According to the "Fair Credit Reporting Act" you are only hit with one inquiry in a 90 period when having your credit pulled for the purpose of looking for a mortgage, even if it is puleed several times in that 90 day window. This allows consumers to shop rates and deals. Take advantage of it. Look around! If your income and job is ok for a mortgage you should qualify at a 620 credit score already.