Buying A Home
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Starting the homebuying process - getting pre-approved
We've been casually looking at houses for a while and are ready to start getting more serious. I know that we need to get pre-approved, and that we should get a letter from at least 3 different lenders so we can compare. How did you go about choosing your lenders? Should one of the "candidates" be our bank?
Also, I've heard that getting pre-approved requires the lenders pulling my credit report. Won't that ding my credit score? How does that get resolved?
Thanks!
Re: Starting the homebuying process - getting pre-approved
We originally got pre-approved by our bank (Wells Fargo) but then found out that listing agents preferred a local bank, so we went with one that our agent recommended and got another pre-approval (and a better rate quote). Mortgage inquiries are not supposed to impact your score that much, especially if you do them within 30 days of one another.
This page might help: http://www.myfico.com/crediteducation/creditinquiries.aspx
This. Shop around by looking at rates, no need to get preapproved at 3 different banks. I actually would advise against getting preapproved by more than one place, as they do pull your credit score.