Just got my first Pre-approved loan letter - Next steps?

[Kevin Ha]

Hey BP,

I'm super excited because I just got my first ever pre-approve loan. I went through about 5 different lenders before one came back with an offer what I was looking for. Thank you everyone on PB for the help! However, hearing the podcast with Craig, a worker from BP, he said we can use the marketplace to find more lenders and agents. it was also told that it is better to find a good number of lenders and try to find one that you have the best relationship with. I'm over my 30 day mark to count it as the 1 hard pull and I wonder if I should try and reach out to find more lenders? What will the 2nd hard pull do to my credit? 

Also, I would like to try and find foreclosed and tax lien homes that could be available, especially in the NYC / greater NYC area and i'm not sure how to go about it. Any suggestions? Is there something that I can do to help put me in a position to find some of these deals? Thank you!

Regards,

Kevin Ha

[Jarred Sleeth]

Ned brings up some great points. What kind of lender were you talking to?  You should make sure they are familiar with loaning on investment properties.

With that said, assuming you are talking to the right lenders, you may ask them not to pull credit until you're ready to move forward with a deal.  I usually tell my borrowers if they have concerns about the pulls, we can wait until they have a deal in place to pull.  Hard inquiries affect your score, but they don't affect them nearly as much as other factors do.