Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago,

User Stats

38
Posts
35
Votes
Sandy Metivier
  • Rental Property Investor
  • San Francisco, CA
35
Votes |
38
Posts

Is it best practice to shop lenders?

Sandy Metivier
  • Rental Property Investor
  • San Francisco, CA
Posted

Hi all. Is it best practice to shop lenders? Any tips/tricks or info around this would be super helpful.

My situation:

Credit score of 800-805 (depending on company). I want the lowest interest rate, and lowest down payment for a 30 year mortgage. I have zero debt, a good/great W2 salary (it's all relative really), and have plenty of assets. Without tooting my own horn, I'm a great candidate for a conventional loan (especially at the price point I'm looking to finance) and should get low rates no matter which lender I go with. 

So... is it worth shopping around? Or do I just go with a referred lender and use my time doing other important tasks? 

I have also heard of shopping around for perks (lender credits, appraisal credits, closing cost assistance etc.)... is this a real thing? Even in this competitive investment market?

Thanks in advance for all your insights and opinions :-)

Loading replies...