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Paul OBryan
  • Investor
  • Los Angeles, CA
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43
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Should I get pre-qualified by multiple lenders?

Paul OBryan
  • Investor
  • Los Angeles, CA
Posted Jun 30 2017, 10:47

My wife and I plan to buy our first small MF property out of state (we're in CA) sometime this year. We are just beginning the process of getting pre-qualified for a particular state and have had preliminary conversations with several potential lenders, both institutional and private, commercial, but we haven't yet submitted our documents to anyone. We don't have a property in mind but want to have a lender ready to go when we find something on which to make an offer. 

Is there wisdom in getting pre-qualified (but not yet credit checked) with a number of lenders to see who would finance us and give us the best terms, or should be just focus on one at a time?

Thanks

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