I only called for a quick quote
Handle detailed info requests for quick rate quotes. Get rate information when mortgage shopping without unnecessary disclosure.
What You'll Learn in This Chapter
- Why lenders deflect quick quote requests by demanding detailed personal information first
- How to get standardized rate information without premature commitment
- Scripts to maintain control when lenders try to convert quotes into applications
You call a lender asking for a quick rate quote. The lender responds: "What good is a quick quote if it's not accurate? To give you a real quote, I need to know a few things about your situation. Can I ask you a few quick questions?"
But, here's what's really happening...
Quick Quote Deflection is a tactic where lenders use accuracy as a justification to start qualifying you before providing any pricing information. The loan officer's process is to reframe your simple request for rate information into a requirement for detailed personal disclosure, making you feel like comparison shopping is impossible without committing to each lender's process.
As a shopper, your counter-process is to recognize that lenders CAN provide standardized rate quotes based on typical scenarios (20% down, 740 credit score, $400K loan, etc.) without needing your personal details. When lenders insist on questioning you before providing rates, they're trying to create commitment and obligation before you've seen whether their rates are competitive. Lenders who respect shoppers provide transparent pricing first, then gather details if you choose to proceed.
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, that makes sense. What do you need to know?
Don't do that.
When you start answering detailed questions before seeing any pricing, you've committed time and emotional energy to this lender without knowing if their rates are competitive. The lender's request for accuracy sounds reasonable, but it's designed to create a sense of obligation: after spending 10-15 minutes answering questions, you'll feel pressure to continue with them even if their eventual quote is poor. Lenders can provide standardized rate quotes for comparison—they choose not to.
Get standardized quotes first, provide details later.
➡ What You Should Say Instead
I understand you want to give me an accurate quote, and I appreciate that. Can you provide me with a rate quote based on standard assumptions—20% down, 740 credit score, $400K loan—so I have something to compare? Once I've compared quotes from a few lenders, I'll be happy to provide detailed information to the lenders I'm most interested in.
Here's why this is the right approach:
- Acknowledges accuracy concerns without premature disclosure
- Provides reasonable assumptions for standardized comparison
- Separates shopping from committing
- Recognizes that detailed questions should come AFTER competitive screening
The script treats quick quotes as legitimate comparison-shopping tools that don't require full disclosure until you've identified competitive lenders.
➡ See The Mortgage Script in Action
➡ Key Takeaway
Lenders can provide standardized rate quotes based on typical scenarios without your personal details. Get comparable quotes first, then provide detailed information to the lenders with competitive offers—not to everyone who asks.
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