Call me back with your best quote
Counter the call-me-back tactic when mortgage shopping. Keep lenders competing now instead of making you shop first.
What You'll Learn in This Chapter
- Why lenders ask you to 'call back with your best offer' and how this tactic weakens your leverage
- How to respond to keep lenders competing simultaneously instead of sequentially
- The exact script to use when a lender tries to get you to reveal your best offer first
You've just called your third lender this week. Each one has said the same thing: "Shop around and call me back with your best offer. I'll beat it." It sounds helpful.
But, here's what's really happening...
"Call Me Back With Your Best Quote" is a probe technique that shifts the work to you. The loan officer's process is to let you collect as many competitor offers as possible, then position themselves as the "best deal" for you after you've already revealed your strongest option.
As a shopper, your counter-process is to keep all lenders competing at the same time, based only on written Loan Estimates. When lenders say "call me back," they're essentially saying: "I don't want to compete fairly. I want to see everyone else's cards first."
Now that you understand the tactic, let's look at how most people fall into the trap.
➡ How People Get Trapped
Most people respond with:
Okay, I'll call you back once I see what others are offering.
Don't do that.
When you tell the lender you'll call them back after receiving offers, it gives them control and lowers your leverage. The lender knows exactly what they have to beat, so they'll only beat it by the smallest of margins.
Don't be a messenger who brings quotes back one at a time.
➡ What You Should Say Instead
If you can beat the lowest rate, why not show me your best offer now? That way I can make an informed comparison without guessing.
Here's why this is the right way to shop for a mortgage:
- Resets the terms: you're asking for their real number upfront.
- Keeps you in the driver's seat by comparing equal documents.
- Filters out lenders who rely on gamesmanship instead of transparency.
The script doesn't accuse the lender of being unfair. It simply sets a rule for how you want to shop. That confidence protects your money.
➡ See The Mortgage Script in Action
➡ Key Takeaway
Never shop backwards. Collect written Loan Estimates from every lender before you compare.
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