multiple pre-approvals

[Anonymous]

Does it make sense to get multiple preapprovals from lenders prior to looking for a house?  Will it hurt one's credit score the same way that actually applying for mortgages from multiple lenders would?  I plan t take my time in looking for a house, but want to be able to 'pounce' when I see something that I like. So, if I go to one lender and get a preapproval letter for a certain amount, then a few weeks later go to aonther (with a different lower rate) and ask for a preapproval letter from them, will that count as multiple inquiries? I dont' want to hurt my score.

Thanks!

[llecs]

Good question. Can't answer the pre-approval question but per your FICO score will read all mortgage and car inquiries as one solitary inquiry if they are within a 14 or 30 day time frame. The time frame depends on the CRA and the version of score used. So, if you app 50 times within a couple weeks, your FICO score will only get dinged once. There's a reasonable expectation that the avg. consumer will shop around for a good rate.