Home Buying and Needing a Second Lender Approval?

Ann Lane

New member
I am in the process of purchasing my first home. I have a lender and am pre-approved for more than the house we have put a bid on. The counter offer we got from the seller stipulates that even though we don't need to utilize their financial company of choice, they want us to get pre-approved through them.

I am kind of uncomfortable with that yet my realtor says this is becoming common place.

Has anyone heard of that? Am I being paranoid for nothing? Personally, I don't like the idea of sharing my financial information with a party that I have not chosen.
 
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