Agents want to have the pre-approval in hand before they
spend time finding a house. It ensures that you are a qualified buyer, which will
help them when they present your offer to a seller. Often they can refer you to
some lenders they've worked with before. This is fine if you have an experienced agent who
can vouch for the lenders.
Good agents have several lenders they can refer you to,
and you should ask the same questions you'd ask if you were finding the lender on your
own. In case the relationship sounds too close for comfort, the Real Estate Settlement
Procedures Act (RESPA) prevents agents from taking kickbacks or referral fees from service
providers.
But remember the agent's incentive in finding you
a good lender is to ensure the transaction closes on time without any hiccups. That's in
their best interest as well as yours.
