ON Canada - when we do pre-approvals, you are being qualified as getting a mortgage minus the property you want. We get a mortgage guarrantee from the bank to show how much you can be qualified for mortgage purposes. Frequent credit check is not good for your credit score as it may bring your score lower.

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Looking at a home, qualify for va, how many places can i go for preapproval before it affects my credit?

The above poster is correct, but it's 14 calender days NOT 30 days. My information came directly from a sales agent for Equifax.

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Hi i applied for a home loan thru eastern bank and they pre approved me for the amount i want 125,000 but i wanted to go with sovereign cause they offer a better interest rate. i applied with sovereign on monday dec 13th but with the soft second loans they dont do preapprovals they just jump to the approval. do u think i will get it and how long does it take to get approved? thanks

~~There is much more involved than a credit score. It would also depend on your credit to debit income ratio, time on the job, and other factors. Each bank requires different factors in making their decision. So there is not a way to correctly answer this question for you accurately.~~

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I have good credit, worked same field for 7 years. purchased a new house with a deliverly date in late october or november. i have been preapproved with 2 different banks. still not sure about the lenders so i'm looking into getting preapproved for a couple other banks. last month i started this new job, but did not like it, and just got an offer for another company which i will give a 3 week notice just to take a 1 week vacation to rest. however my current job told me since i only have been here for almost 2 months, i can make 4th of july my last day. the start date for other job is july 23. i won't get vacation time pay because i was only here for a month. plus my wife shares the mortgage process in getting our preapprovals. we have been preapproved twice last february, will this be a major discrepency? it's not like i'm getting fired or laid off, i'm just accepting a new job offer for the same field plus more money than this current job.

As long as you stay in the same field, it won't matter. Of more concern to me is your "lender hopping". You need to decide who you want to work with. This is the beginning of a lifelong financial relationship. If you aren't loyal to a professional who has invested their time, which IS their money, in you why should they be motivated to go out of their way for you. Choose your lender with the same care as you would use to choose a physician or your child's care provider, be totally honest with them and build the trust that will give you a financial advocate for life.

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Have i messed up by applying for two different home loan pre-approvals? my husband and i applied for a home loan pre-approval a week ago. they said that we would qualify but we are still waiting on them to contact us with the actually numbers. this was for a manufactured home. well, after much discussion we decided that we could be beter off just buying a modest 2.3 bedroom house that needs a little work and do the work ourselves. so, today i applied for a pre-approval fha loan online with a local mortgage company. did i just hurt our credit by doing this?/ lessing the chances we will get either loan?? i know that applying for credit hurts your score but how much does it hurt it?? these are the only two times we have applied for credit in the last six months, with the exception of a walmart card... thanks!!!

No. If applications are within a close time frame, it will count as one on the report and score.

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Also, i recieved a message a while ago saying that i was preapproved for an autoloan of up to 22,000 but i don't remember ever applying for a loan. by the time i had read the message the offer had expired. do they do preapprovals without you applying or did i possibly accidently apply and forget about it??

I think your best course of action is to call them and talk to them about a loan. The pre-approval notice may have just been a solicitation, not something you actually applied for. Good luck.

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When my son was born he had a problem with the skin on his penis being to tight (phimosis) and our pediatrician told us that he could not perform the circumcision for that reason and that we would need to wait 6 to 9 months for medical reasons. here we are 8 months later and our insurance company will not cover it because they say they will not cover the cost of a circumcision after his initial discharge. they would have covered it if we would have had it done right away but not now. they even initially said they would if it were medically necessary to wait but now have recanted and said that they will not cover it and that preapprovals are never guarantees (thanks for that). i am very disgruntled about this because it was no fault of anyone that it could not take place immediately and it is medically necessary that it is done now - this is not a cosmetic choice since the phimosis actually holds his penis back and pushes it into his body. my question is about the language in my policy. it says that they do not cover the circumcision for the reasons above but that they do cover anesthesia and hospital rooms for all outpatient surgeries. are we then only going to be responsible out of pocket for the cost of the urologist doing the surgery? in my mind and opinion, the urologist, the room, and anesthesia are separate and independent bills and therefore we should be able to claim them as covered costs but i am not sure. i am hoping someone who reads this is versed on this and can provide the answer for me. i will still check with my insurance company but i have completely lost faith in them after this pre-approval fiasco. thanks everyone.

if its done in a hospital there are separate charges from each department. if done in the urologist office one fee for service, usually including follow-up. you should be able to submit to your insurance co based on medical necessity. if the claim is denied originally, ask for a supervisor, and continue up the food chain. some companies will always deny first requests for unusual reimbursements. you always have the right to ask for a review.

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So i was looking to buy new furniture. im looking to finance it for 0% interest which i know i will qualify for but the "roomstore" card is issued through hsbc. i like the roomstore because i've bought furniture there before, but hsbc is not good lender to deal with, specially with their customer service in india (no offense, but you can hardly understand them!) but my question is, when applying, do they do a preapproval first because i've seen hsbc does preapprovals first for all their other cards. and by preapprovals, i mean a soft pull.

They will probably do preapproval with hard pull.

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I was going to send money to someone through western unions online service. after entering my online info it said i had to call in and go through some verification. they asked for my ss# (ive sent money through various banks and they always needed this). i asked them why they needed it anyway. they told me for security. then they started asking me questions about my credit history and ran my credit report without asking me. i asked her about it (the operator) and she told me that they didnt. i told her that she is asking me questions about my credit history, i am not a moron, you have my history. then she told me yes they ran my credit history. i told her not to proceed with my personal information and not to contact me with anything from western union with my info. what can i do to complain about them lying and not telling me about something like running my credit history? i ahve great credit but i dont want anyone running my credit, as the more it gets ran the worse it affects your credit rating. everyone running it for credit card preapprovals and all that kind of stuff is bad enough. it just angers me that i asked the woman and she outright lied to me about the process she was going to take me through. my credit score could be harmed, as well as anyone else that is unsuspecting that western union will run your credit when you send money online. i run an import business, normally i use the bank but i forgot to do this today and thought i use their service for something that i do routinely through my bank or other banks. hmmm. turns out they charged the card before the verification so even though the verification wasnt verified they charged me anyway. ill have to call my credit card (debit actually) bank and see what they say. apparently i should have googled western union sucks. hindsight is better than foresight. this seems to be a common thing with western union and their poor practices.

Sound to me like they suspected you of some type of fraud, especially if you have been "sending money through various banks".

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I've read a lot of questions and a lot of responses about preapprovals and i'm concerned. i was pre approved for a home loan and waited for everything to go through the underwriter before receiving a pre approval letter. i was given a total amount as well as conditions about everything - my confusion comes from where i see people responding that this doesn't mean anything - i don't think that is true. my loan officer says i don't have to go through the underwriting process again am i missing something with what i've seen here that's different from what i've gone through?

If your application has already gone through underwriting, you are WAY past a 'pre approval process'. You ARE approved. A pre-approval is nothing more than a lender taking information from you (without verification), and then advising whether or not you will qualify for a loan based upon the information provided. If the information provided is not accurate or complete, the actual approval may be denied. Hence, the comments you see about pre approvals being relatively useless.