No. of Recommendations: 1
Go ahead and start multiple applications, and see what kind of service you'll get when 5 lenders realize that 4 of them will go through all the work but won't get the loan. What you'll get is all 5 of them dumping your app to the bottom of the stack.

FYI: All lenders WILL know what's going on because each one will ask what all the credit inquires are for. It's called an LOE (letter of explanation).

To Whom It May Concern:

I've been asked to address the numerous credit inquiries on my credit profile. All credit inquiries were for the purpose of selecting this loan provider and only this loan provider. I inquired about but have applied for no new credit other than this application within the past six months.

[signed under penalty of perjury]
Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.