The next time you deal with a rate shopper, consider these important facts...

A recent FNMA survey showed that just 20% of borrowers selected a lender solely based on rate and price. The most common reason for selecting a lender was a referral from a friend or family member. Realtors and builders ranked second and third respectively as referral sources for lenders.

The reason for this is simple. Most consumers are willing to pay for service and trust. Most of us would not choose a doctor, lawyer, or contractor just because they are the least expensive. So keep in mind that the vast majority of the prospects you speak to have the same mindset, because behind every rate question, there is a question of trust!