New member looking for lender advice

[Travis Wagner]

Hi everyone, been loving the biggerpockets podcasts and wanted to introduce myself on the forums.

A little about my wife (Ashley) and my situation.

-owned our primary residence for 4 years

-interested in making an offer on a friend's fixer property, they selling due to devorce.

- owe 330000 on our house it is worth 480000

Looking to cash out refinance to put down payment on a new loan

Quick question

I have submitted cash out refinance applications with usbank (our current mortgage holder) and peeny Mac online.

Any suggestions of other places to look for a down payment for a new house. We plan to rent out our now primary residence and live and fix up this other home.

Is it a bad idea to shop for refinance and pick the best deal or will most be equal. 

Once we get a cash out approval we will be looking into prequalifying to make an offer

Hope I wrote this ok. I'm very new to investing in real estate and would love some help. 

Thanks,

Travis and Ashley