Why can't you just tell me the lowest rate?

You ask a lender what their lowest rate is. Instead of providing rate information, the lender deflects your question with requirements and conditions.

But, here's what's really happening...

Now that you understand the tactic, let's look at the three most common angles lenders use to deflect rate quote requests.

➡ Three Ways Lenders Deflect Rate Quote Requests

Angle 1: Accuracy Deflection

Lender says: "What good is the lowest rate if it's not accurate for your situation? To give you a real rate quote, I need to know your credit score, income, and the property you're buying. Without that information, I'm just guessing."

Most people respond: "Okay, that makes sense. What information do you need?"

Don't do that. This lender is using accuracy as justification to avoid providing any rate information without full qualification. While rates DO vary by borrower, lenders can provide standardized rate quotes for comparison purposes (740 credit, 20% down, $400K loan). By demanding your personal information before providing ANY rate quote, they're creating commitment before you've seen whether their pricing is competitive.

Angle 2: Qualification Deflection

Lender says: "I can tell you what our lowest rate is, but it might not be the rate you qualify for. Your actual rate depends on your credit score, down payment, and other factors. Let me ask you a few questions so I can give you an accurate quote."

Most people respond: "Sure, I understand. My credit score is 760 and I'm putting 20% down."

Don't do that. This lender is framing their lowest rate as irrelevant to you—implying you probably won't qualify for it—while simultaneously asking for your personal information. By disclosing your qualification details before seeing ANY rate information from this lender, you've committed time and information without knowing if they're competitive.

Angle 3: Total Cost Deflection

Lender says: "Are you looking for the lowest rate, or are you looking for the best overall deal? Because sometimes a slightly higher rate with lower closing costs is actually a better deal overall."

Most people respond: "You're right, I should focus on total cost instead of just the rate."

Don't do that. This lender is reframing your rate question as unsophisticated—suggesting that asking about rates means you don't understand total costs. While total cost IS important, this deflection avoids answering your rate question entirely. You can (and should) compare both rates AND total costs across lenders—this isn't an either/or choice.

The Pattern

Notice that in all three scenarios, the lender successfully avoided providing rate information by making you feel like asking for rates requires full qualification or strategic reframing. Get standardized rate quotes from all lenders first, then qualify with competitive lenders.

➡ What You Should Say Instead

Regardless of which deflection angle the lender uses, your response remains the same:

I understand rates vary by situation, and I appreciate that. Can you provide a rate quote based on standard assumptions—740 credit score, 20% down, $400K loan—so I have something to compare across lenders? Once I've compared rates from a few lenders, I'll be happy to provide detailed information to the most competitive lenders for accurate quotes.

Here's why this response works for all three angles:

• For Angle 1 (Accuracy Deflection): Provides standard assumptions that allow accurate comparison quotes
• For Angle 2 (Qualification Deflection): Requests baseline pricing before disclosing your specific qualification details
• For Angle 3 (Total Cost Deflection): Acknowledges total cost matters while still demanding rate transparency

The script treats rate quotes as legitimate comparison-shopping tools that don't require full qualification until you've identified competitive pricing.

➡ Key Takeaway

Lenders can provide standardized rate quotes based on typical scenarios without your personal details. Get comparable rate quotes from multiple lenders first, then provide detailed information to the lenders with competitive pricing—not to everyone who asks.