Am I making a mistake or just second guessing too much?

Am I making a mistake or just second guessing too much?Am I making a mistake or just second guessing too much?
asked 4 years ago

I arranged to meet with the local mortgage broker my realtor recommended (an in-house MB tied to the realty company) next week. In the meantime, I also did some research and found another very well reviewed lending company that only serves the specific NE region that I am in but is too far away from my hometown to be considered “local” and therefore requires online/phone communication rather than face-to-face service. I know exactly what type of mortgage I want, however, so am not too concerned about needing lots of hand holding and the like. I just want transparency and responsive LO with excellent rates/fees to offer.

 

I ended up speaking with a LO at this other company late last week and decided to submit an application for preapproval–even though I have not yet met with the MB my realtor recommended. Was this a foolish move or does it not matter that much at the preapproval stage? The preapproval application was submitted late yesterday afternoon so will not be evaluated until Monday at the earliest.

 

I know I am not obligated to go with the company that preapproves me, and may still end up wanting to proceed on the actual mortgage with the MB I’m meeting next week, but am wondering if I should tell this MB that I have already started the process elsewhere but still want to hear about their rates/fees,etc? Will they be annoyed? I know I only need one preapproval and should not bother to be preapproved by this second MB and having my credit pulled yet again but am now having 2nd thoughts that maybe I should have waited. Am I overthinking this (something I tend to do about every major decision!)?? If this was a mistake, can I revoke my app before they proceed on monday? There’s nothing to give me pause about the company I applied with other than my own anxiety!

 

It may be months before I find a house I like and am ready to buy or it could be a few weeks so I want to make sure I’m doing everything right without damaging my mortgage fico score in the process, which is currently in the low 700s.

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