Evaluating Mortgage Lenders

[Alison Wegenke]

Hello all!

I'm going through the process of (potentially) purchasing my first rental and came across this unknown. What exactly am I looking for when it comes to comparing mortgage lenders and is it expected that I go through the entire approval process with every potential lender? I understand it's important to evaluate offers from multiple lenders before selecting one but apart from simply comparing interest rates and variable vs. fixed I'm not sure what makes one offer better than another.

Any advice would be greatly appreciated!

Thanks!
Alison