The other lender promised faster closing
Compare mortgage lenders' closing timelines. Know how lenders use speed claims to compete for your business.
What You'll Learn in This Chapter
- Why lenders question competitor closing speed promises instead of committing to their own timelines
- How to separate legitimate timeline concerns from competitive avoidance tactics
- Scripts to get specific timeline commitments from all lenders for fair comparison
You mention that another lender promised a faster closing timeline. The current lender responds: "Are you sure they can actually deliver on that promise? Most lenders who promise faster closing are either not being honest or cutting corners that could affect the quality of your loan."
But, here's what's really happening...
Fast-Closing Promise Skepticism is a tactic where lenders cast doubt on competitor closing speed promises to avoid competing on their own process efficiency. The loan officer's process is to frame fast closings as either unrealistic or low-quality—making you dismiss the competitor's timeline advantage without requiring THIS lender to commit to a specific timeline themselves.
As a shopper, your counter-process is to recognize that closing speed is a legitimate competitive factor that reflects lender efficiency. Some lenders genuinely have faster processes through better technology, staffing, or workflows. When lenders question competitor closing promises without providing their own timeline commitments, they're revealing they can't or won't compete on efficiency. Fast closings aren't inherently risky if the lender maintains quality controls—but slow closings aren't inherently safer either.
Now that you understand the tactic, let's look at the three most common angles lenders use to create doubt about competitor closing speed.
➡ Three Ways Lenders Create Doubt About Fast-Closing Promises
Angle 1: Delivery Doubt
Lender says: "Are you sure they can actually deliver on that promise? Most lenders who promise faster closing are either not being honest about the timeline or they're cutting corners that could affect the quality of your loan."
Most people respond: "You're right, that does sound risky. Maybe I shouldn't trust their timeline promise."
Don't do that. This lender is casting doubt on the competitor's promise without evidence or explanation of why fast closings are necessarily low-quality. Some lenders genuinely have efficient processes. By dismissing the faster timeline without requiring THIS lender to provide their own timeline commitment, you've eliminated a potential efficiency advantage based on speculation.
Angle 2: Documentation Doubt
Lender says: "Did they give you a written guarantee about the closing timeline, or was it just a verbal promise? Because if it's just verbal, they might not be able to deliver on that promise."
Most people respond: "It was verbal. Maybe you're right that I shouldn't rely on it."
Don't do that. This lender is using the absence of a written timeline commitment as evidence the competitor is unreliable—while also not providing THEIR OWN written timeline commitment. The lack of documentation is a valid concern that applies to ALL lenders equally. Demand written timeline commitments from everyone, not just from the lender this one is criticizing.
Angle 3: Quality vs. Speed Trade-off
Lender says: "What's more important to you—closing quickly or closing with the right loan terms? Rushing a loan can lead to problems down the road."
Most people respond: "You're right, quality is more important than speed. I'll go with you instead."
Don't do that. This lender is framing speed and quality as mutually exclusive when they're not. Efficient lenders can deliver both fast closings AND quality service through better processes. By accepting this false choice, you're letting a slower lender justify their inefficiency without requiring them to explain WHY their process takes longer.
The Pattern
Notice that in all three scenarios, the lender successfully avoided competing on closing efficiency by questioning the competitor's promise. Evaluate lenders based on their own timeline commitments and pricing—not their criticism of competitors.
➡ What You Should Say Instead
Regardless of which doubt-creation angle the lender uses, your response remains the same:
I appreciate your perspective on closing timelines, and I'm considering that as part of my decision. I'd like to get written Loan Estimates from all lenders showing total costs AND realistic closing timelines with specific commitments. Can you provide me with a written Loan Estimate and tell me your typical closing timeline?
Here's why this response works for all three angles:
- For Angle 1 (Delivery Doubt): Demands THIS lender provide their own timeline commitment for comparison
- For Angle 2 (Documentation Doubt): Requests written commitments from ALL lenders equally
- For Angle 3 (Quality vs. Speed): Rejects the false choice and demands both competitive pricing AND efficiency
The script treats closing speed as a legitimate competitive factor while demanding written commitments from all lenders—not just from the one being criticized.
➡ See The Mortgage Script in Action
➡ Key Takeaway
Closing speed is a legitimate competitive factor that reflects lender efficiency. Get written timeline commitments from ALL lenders and compare both pricing and speed. Don't dismiss fast-closing promises based on competitor skepticism—evaluate all lenders by their own written commitments.
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