When searching for a home loan, can I get two or more mortgage brokers to search for the best rate for me and at the end just choose the one that found the best rate?

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    Can you? Sure. You run the risk of having two different hard inquiries on your credit report. You also set yourself up to burn some number of hours of someone's time with not chance you'll actually use their service. Some would dismiss this as "shopping around." It depends how much work they actually do for you. Commented Feb 15, 2013 at 4:46
  • @JoeTaxpayer What is a hard inquiry? and what would be the problem o having them in your credit report?
    – Peretz
    Commented Feb 15, 2013 at 5:04
  • possible duplicate of Multiple mortgage pre-approvals and effects on credit score
    – littleadv
    Commented Feb 15, 2013 at 7:29
  • 4
    @Peretz Here is a basic definition of a hard pull. I would recommend calling a bunch of brokers for rate quotes, learning all you can, then choosing one to go forward with.
    – Steven
    Commented Feb 15, 2013 at 16:12
  • @Steven Since the rates fluctuate all the time until you lock in the rate, when would it be the best time to start looking for quotes? is it when you have already found the house that you want and agreed upon a price? how much time do I have?
    – Peretz
    Commented Feb 15, 2013 at 16:21

2 Answers 2


While it is possible, it's not a really good use of your time or theirs. Mortgage brokers have access to dozens of lenders, can assemble deals you can't even dream of, and are much more intimately acquainted with the latest lending rule changes than you are. They are paid by the lenders to bring them business, so there is no cost to you. A mortgage broker has the advantage of leverage because he can be placing 10 mortgages per day, while you will be placing one, once.

Your mortgage broker is working on your behalf. Get out of his way and let him do his job so you can concentrate on other matters. If your concern is that you want the lowest rate, share that with your broker and let him find the best rate for you. If you want a deal where you can put a larger prepayment down, let him know that and he will find you what you're looking for.


Obviously mate. Mortgage advisors don't have just one client, similarly why should you have only one advisor? it´s an open market. Don't worry about wasting their time, you are not wasting their time if you are considering a mortgage. then, in case you found a better deal with another mortgage advisor then that´s life - someone was better then them.

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    The question is, will it really do you any good to justify that additional effort (yours or theirs)... and I think the answer now is "probably not." They're all working from more or less the same sources of information.
    – keshlam
    Commented Dec 14, 2014 at 5:44

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