There’s a lot of legal and/or moral fraud in the mortgage industry surrounding the interest rate quote. Until you lock your rate, the interest rate quote your lender gives you is of no value. Unless you’re working with a lender or loan officer that you trust there is an excellent chance that the loan officer’s interest rate quote is lower than what you will actually receive because of the loan officer’s fear that you will opt for another lender with a more favorable interest rate quote. Intense competition has created an environment of dishonesty among lenders.
At LeaderOne DC it is our guarantee—it’s our business model—to operate with absolute honesty with our clients, from the recommendation to buy/rent or to refinance to the interest rate quote and the paperwork. When you receive an interest rate quote from our state-licensed branch employees you can rest assured that it’s exactly the rate that our pricing model has calculated. While giving you a real interest rate quote is not required by law, our employees answer to a higher authority.