Mortgage applications - single or multifamily?

[Lupe Camacho]

Hi!

I'm about to apply for a mortgage with several lenders to shop the best rates. However, I started in on the first application and have to select either single or multifamily. I'm open to both at this point and it's more of a question of what's available and what the numbers look like.

If it's a SFH I'm open to house hacking, but in a perfect world I'd get a multifamily. Should I just choose multifamily on the application? Are the rates similar? Should I ask for rates for both after I submit for one? I was reading that the approval process on a multifamily mortgage is more stringent, so I'm guessing I should start there (?).

Thanks for taking the time to read this! I've obviously never done this before. :)