Do I get more than 1 pre-approval for VA loan?

[ineedadvise]

Okay, so I finally decided to call the broker and see if we are ok (after all of my work and education here) We got the "approval" for a VA loan!!!  I am not sure I believe it yet, I just kept reading the e-mail over an over to make sure it said "approved"...Do we get more than on approval with VA...I know it's recommended to shop around but aren't VA loans a set rate like FHA.  Also he is sending me the pre-approval letter, will this have the interest rate??  I'm not sure how this works from here...anyone out there that can help...I've worked so hard, I just don't want to screw up now.  I read about people "locking-in" rates...when does this happen?

[Anonymous]

Locking in happens after you found your house and have a contract.  What they mean by set rate for FHA is that no matter your score, 620 or 800, you're likely to get the same rate from one bank.  But the rates for FHA loans can still vary a bit from bank to bank.  Not sure if it's similar with VA loans or not, sorry..  Also even if the rates are the same, the closing costs can still vary.

[BrianB_The_Loan_Professor]

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@ineedadvise wrote:
Okay, so I finally decided to call the broker and see if we are ok (after all of my work and education here) We got the "approval" for a VA loan!!!  I am not sure I believe it yet, I just kept reading the e-mail over an over to make sure it said "approved"...Do we get more than on approval with VA...I know it's recommended to shop around but aren't VA loans a set rate like FHA.  Also he is sending me the pre-approval letter, will this have the interest rate??  I'm not sure how this works from here...anyone out there that can help...I've worked so hard, I just don't want to screw up now.  I read about people "locking-in" rates...when does this happen?

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Neither FHA or VA have set rates they vary and are negotiated

I would find out your scores from the first guy and then just get a quote from a second source

Remember rates do change with the market and if not done at the same time a variance between the two may or may not be a market change

You should be able to see any BIG differences and or get a feel for the how the first guy is treating you this way

No need to do another pull or go through a full preapproval

If you like the second quote better then you can step it up

Good Luck

B