Should I get pre-approved by multiple lenders, and does it hurt my credit?

Yes, getting pre-approved by several lenders is smart because it reveals real rate and fee differences, and it barely affects your credit. Under FICO and VantageScore models, all mortgage-related hard inquiries within a shopping window, typically 14 to 45 days, are grouped and counted as a single inquiry. So you can safely collect Loan Estimates from three to five lenders without stacking damage on your score. Compare the interest rate, the lender fees in section A, and the total cash to close. Beware pre-qualification, which is a softer, less reliable estimate; a true pre-approval involves document verification and carries more weight with sellers. Keep the inquiries close together in time to maximize the grouping benefit.