Which Bank to choose for first investment property?

[David Janes]

Hello all, 

My wife and I are currently looking for single family flips and fixer-upper buy and hold multi-family units in South Eastern, Ct. My dilemma is Navy Federal offer 97.5-100% financing with no PMI, great for short term single family flips but not the greatest for buy and hold multi-family due to higher monthly rates. My local bank Groton Chelsea offer competitive rates and also have great closing costs (2,800) for 150k purchase with 20% down which is good for buy and hold and would be a nice revenue stream. My question is since I'm not sure which properties will become available or be best for us til i see them in person. Should i try to get approved at both banks or just pick one? If i apply to get approved at both banks is there a potential down side to hard credit pulls by multiple banks?

Thank you for your time!

Dave & Haley