I am a syndicator and help other investors source financing (private and institutional) for deals. 

Any reason for picking one type or institution over another?

@Toan HoangA portfolio loan is a loan that the lending institution keeps on its books (in it's portfolio), rather then selling to Fannie Mae.

Other designations to look for are ABR (Accredited Buyer Representative) CNE, (Certified Negotiation Expert), GRI (Graduate, REALTORS Institute).   

This is why it's so confusing to everyone.In my experience IRR investors are usually institutional with safer investment plays.

So I received a violation notice from the city of Royal Oak, Mi for not having my rental registered (shame on me) and as a part of remediating, I need to have an inspection.

I've heard stories where someone opened a simple credit card prior to closing on their mortgage and it delayed the process.This may be different if you're using the same lending institution for both the HELOC and the refinance, just make sure if the loans are going through two different departments that everyone is on the same page.Best of luck! 

And fico is down the list at what my commercial banks look at for multi million dollar loans I get.. those are based on the 3 Cs  Character  Capacity Collateral   and of course experience and length of time with the institution.. now this is for my development and construction loans.. 

@Craig Ts You can also add institutional money to fund larger deals

I usually try to get as much info from each institution as possible before I let them run it so I am 99% sure I'll be approved before I give them the green light but this creates a bunch of extra work on my end.