Are Mortgage Rate Quotes Online Accurate?

The Truth About Online Rate Quotes

Short answer: rarely. Online rate quotes are usually designed to collect leads, not give precise numbers.

What Affects Your Real Rate

• Credit score

• Loan type

• Down payment

• Debt-to-income ratio

• Property type

• Occupancy (primary, second home, investment)

• Market movement (rates can change several times daily)

Why Online Rates Look Lower

They often assume:

• Excellent credit

• Large down payment

• Single-family home

• No debt

• Discount points paid upfront

Most real buyers don’t fit this “perfect” profile.

The best rate is the one you actually qualify for — not the one in a banner ad.