all you need is one legitimate pre-approval by one lender..... if you have credit issues, you should have at least one backup system.... 

As a buyer, there's no advantage to getting preapproved by more than one lender.  There's nothing wrong with "shopping" different lenders, but you don't need more than one preapproval.

You don't need more than one pre-approval. But when it comes time to decide on a lender you might just want to shop around a bit.

Pros - might get a better or faster deal, work with someone you trust more or who is more proactive. Cons - your sensitive information might get more exposure than you like and your credit will be run more, possibly affecting it.

You are absolutely fine to post anonymously, nobody should bother you. To answer your question, ONE PQ by one lender should be sufficient.

What is the difference between a con and a drawback?

No need to go through the full pre-approval process, you're 'just looking' at this juncture.

When you find the lender that best suits your needs and you feel you would like to work with, THEN that lender will work with you to get your pre-approval done.

Good luck!

Nothing wrong with shopping rates - yet never forget the level of SERVICE you will get with whomever you choose. You want someone who will be on top of the loan, preferably a direct lender that will get you underwriting approval before you make an offer. 

Interesting!

The drawback is there is no reason to do this. You have a pre-qualification since it isn't a pre-approval until final undewriting and you can always change. Use the KISS method instead.

One trusted local loan officer is enough. 

 See the answer from Olga Simoncelli 

I thing that Olga Simoncelli gave you a wonderful answer.  A

I'm not aware of any negitives HOWEVER I'd limit my "bunch" to 3.

Here, we must give a list of 3 names.  No cons as long as you can qualify to purchase a home and hopefully someone you know and trusted has referred you to reputable, experienced professionals.

You only need 1 pre-approval, but it could pay to shop around for the loan.

It's always good to have a backup plan

talking with multiple lenders is a good idea, but pick one, ask your agent if you've picked wisely and get them to make a list of recommendations... but one pre-approval should be plenty.

Why more than one, did your agent suggest this?

As a Mortgage Banker with 50 years in the business, If I knew you were looking to get TWO Pre-Approvals, I would not do it and would not want to do business with you. What you are saying that after I get an application, run the credit, look at Tax Returns and do the Debt Ratios, you could care less if they use me or not. So are you OK with your buyer looking at the same home with two Realtors. So Anonymous, you can stay that way with me. 

 Perhaps someone doesn't "trust" your "pre-approval"  letter/certficate. As a buyer ask yourself who doesn't believe me or doubts my ability to close a transaction. Do you feel you are being treated fairly/equitably?  There may be a reason.  Just something to consider. Good  luck.

One pre-approval is all you need. Do your homework and pick a lender!

Good luck.

When you submit an offer on a home, you will only need to submit it with one pre-approval. 

It is a good idea to shop. You might not hit it off with the first lender to whom you speak. Rates, programs may be different. Only one fully underwritten pre-approval is necessary from whomever you chose.

I hope you get a loan soon!

Choose one trusted and local lender. All lenders are nearly the same in rates and closing costs. What differs is service. Pick one and stick with them

It used to be a buyer brings in preapproval letter from each major lender for reo sale. If it is not an out of town approval computer generated sorry no matter how high the offer is.

Even today some listing agent insists another loan agent reviews their qualifications but do not have to use them.

Credit report should be the same nomatter who runs it.  Show others lenders the print out and adk then what they think

LOL

I would inquire through a few lenders, but to do the full pre-approval, would only go to one.

just do not do more then 3, your fico score could go down.

Double the application costs and fees.  On the bright side, if they know they aren't the only one you're looking at, they might be more competitive.  I've seen buyers have a second lender in their back pocket if the first one couldn't perform... usually on more complicated loans.

Waste of time if your first preapproval is done properly.  If you  have a great lender that you trust knows what they're doing, a 2nd preapproval is just going to be extra time spent for you and some poor soul that'll be workin' for free.

Rate and program shopping is one thing, but you can do that outside of the preapproval process as long as you know your credit score, down payment, etc.

There should be no problem with this.