One of the first questions that a prospective home buyer will ask a Loan Officer is "what are your interest rates?" That question appears to be a simple one however from an ethical stand point it's not that simple. There are a number of factors that go into determining an interest rate; factors such as:
If a loan officer is being honest with you, he or she will not be able to quote a specific rate until they've been able to review your credit report. What they can do is go over market conditions with you, discuss rate structures, and what the requirements are to qualify for the best financing.
We firmly believe that a Loan Officer should not be chosen based on the interest rate that they quote.