How many lenders should I send my app to?

[John Paul Whaley]

I am hoping to get pre-approved here in the next week and I am calling various lenders to see what type of product they offer. I have spoken with a few firms who would structure my first few loans as if they were a traditional lender, and then would offer their portfolio product once I hit a certain limit. I think this sounds like the best product for me, as this is for my first investment and I don’t really need a portfolio lender yet, but might at some point down the line.

My question is, how many lenders should I send my application to? Is there any harm in sending it to 5 or 6 different firms? Is there any reason I should keep that number closer to 2 or 3? Any advice would be appreciated. 

Thanks in advance. 

[Andrew Postell]

@Kerry Baird thanks for reposting that.  I've noticed BP have some more challenging formatting too...but still such a great site for information.  

@John Paul Whaley certainly shop.  Absolutely recommended to do so.  And trust your instincts with this stuff too.  If one person is 1% rate but you feel more comfortable with the person who has 1.125% rate....trust your gut.  If the person is more knowledgeable, trustworthy, you just outright like them.  Maybe a small difference isn't that important.  If it STILL is to you...then ask them to match the other person.  Bigger Pockets also has some great state forums too.  Try posting in the state forum you are looking at properties in and see who some good locals use. Might lead you to some good sources as well.  Good luck!