The other day, a home buyer who was shopping interest rates told me that another lender would not provide her with a rate quote unless she submitted an application and allowed them to run her credit. This is wrong! A lender does not need a complete application or to pull your credit report (not even a “soft-pull”) before they can provide you with a detailed mortgage rate quote. I don’t know if it was the lender’s company policy or if they were just trying to get more information – however, it should not be required. [Read more…]