Can/should I work with multiple lenders?

[Conor Neville]

Hi all, my business partner and I are aiming to purchase our first LTR property. We have our agent and lawyer selected but are between two different lenders. Both fantastic in their own rights and I am wondering if it is possible/is it advisable to work with multiple lenders? What are the impacts of trying to do both? Appreciate your advice! 

[Mark Munson]

Hey @Conor Neville

.     It never hurts to have more than one lender in your stable. The reality is that most can't fund every deal or may have an underwriting guideline that doesn't suit your deal. Prioritize the lender that communicates well and actually answers your questions correctly and in a timely manner. Chasing the lowest rate/fees doesn't always yield the best result. You want a rep that can talk actually real estate investing with you, not just someone there to hand you rates and terms. They should also be well versed in underwriting, not just being a loan officer.