Additive manufacturing of metals by 3D printing of polymeric filaments containing high loading of metal powder, subsequent debinding, and sintering offers a potent alternative to the widespread beam-based processes. The polymeric binder is the decisive component for a successful fabrication process. This study presents the development of a multi-component binder system for filament-based 3D printing of 316 L stainless steel in various optimization steps. The binder contains a polyethylene (PE) backbone, which ensures the structural integrity during solvent debinding. A soluble binder component consisting of a thermoplastic elastomer (TPE) and a second PE is used, to reduce the polymer content via solvent extraction prior to thermal debinding. The TPE grants flexibility to the filaments, while the PE allows reduction of the viscosity and increase in stiffness and strength. This enables precise tuning of the rheological and mechanical properties of the filaments. The capabilities of the binder system developed, are demonstrated by the fabrication of 3D plate-lattices. The structures are printed, subjected to a two-step solvent – thermal debinding procedure, and finally sintered. In the compression tests the structures are able to undergo large plastic deformations without fracture, highlighting their potential for energy absorption applications. The main contribution of this work is the development and disclosure of a binder system with two types of soluble polymers. This allows the precise control of the mechanical and rheological properties, as well as the backbone fraction of the binder. Based on the characterization performed, the binder system can be easily modified to adapt for other solid loading materials and fractions, as parameters like stiffness, viscosity, or backbone content can be adjusted precisely.