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aca23

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when applying for home buying do u apply with more than 1 loan company

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Assuming you are using a mortgage broker.  Your broker will likely have more than one loan in mind as a possibility.  My broker usually starts with the best loan first (but difficult to get approved) and attempts to get approval.  If that fails, go to the next best until a morgage is approved.

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Shop around for your mortgage.

Before applying, research what roughly you can both afford and what your rates should be.  Be aware of "points" on a mortgage and how this can affect your cost (a point, is 1% of interest on the loan amount paid upfront and usually bundled into your loan.  i.e., a $200,000 loan with 1 pont, will be a $202,000 loan).  Also pay attention to the APR, or what you are really paying for the mortgage and not just the interest rate they quote you; the two can be quite different.

Then shop around.  Informal conversations first, to find out what sort of rates they are offering, and then, when you have narrowed it down, apply at the institutions (banks, credit unions, etc.) that offer the best deal to see what they actually offer you.  As long as you apply for the mortgage within a two week window, the individual hard inquiries will be considered as a single inquiry by the credit bureaus/creditors.

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it all depends.

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