RATES
At Murray Mortgage Solutions, we have access to a diverse network of wholesale lenders, all of whom update their rates daily. To ensure you receive the most accurate and competitive rates, we provide personalized quotes upon request. You can choose a Quick Quote for a fast estimate with no application required or a Custom Quote for a more detailed, tailored rate.
FAQ
Does requesting a quote affect my credit score? No. A Quick Quote does not require a credit check, it is based on your estimate. A Custom Quote involves a soft credit inquiry, which also does not affect your credit score.
How do mortgage brokers differ from banks/retail ? The user experience with a Mortgage Broker and bank/retail lender is the same in many ways, you work directly with us and our loan officers, just as you would with the loan officers at a bank/retail lender. The key difference is where your loan is funded and how that impacts your options, rates, and costs. When you work with a bank or direct to consumer retail lender, you’re limited to that institution’s loan products, rates, and guidelines. As a Mortgage Broker, we still handle the entire process, but instead of using a single bank’s products, we access wholesale mortgage lenders that fund the loans. These lenders don’t work directly with consumers, they provide funding through brokers like Murray Mortgage Solutions, allowing for lower rates, reduced fees, and a wider range of loan options. So while the process may feel similar, working with a Mortgage Broker not only provides access to better rates and lower fees but also delivers a more personalized, flexible, and streamlined experience tailored to your needs. Visit our “What is a Mortgage Broker” article to learn more.
What is the difference between Quick vs Custom? A Quick Quote provides a fast estimate based on basic details such as loan purpose, property type, and estimated credit score. It does not require a credit check and is designed for those who want a general idea of their potential rate without going through a full application. A Custom Quote is a more detailed and personalized estimate that requires creating an account and completing a short application. It includes a soft credit inquiry, which allows for a more accurate rate based on financial and credit details.
How accurate are the quotes? A Quick Quote provides a general estimate based on the limited information provided. Since it does not consider a full credit profile or underwriting guidelines, the final rate may differ. A Custom Quote is more accurate because it takes into account credit history, financial details, and specific lender requirements, giving a better reflection of actual loan terms. For the most accurate Rate Quote, we recommend getting fully Pre-Approved. Visit our How to Apply page to learn more.
Which option should I choose? A Quick Quote is ideal for those who are just exploring options and want a rough estimate without providing detailed financial information. It is best for borrowers in the early stages of the process who want a general sense of potential rates. A Custom Quote is better suited for those who are seriously considering a mortgage and want the most accurate rate possible. Since it includes a soft credit inquiry, it provides a more precise reflection of what we can offer.
What happens after I receive my quote? For Quick Quotes, you will have the option to move forward with an application if you choose to do so. For Custom Quotes, your next step would be to move forward with a full Pre-Qualification or Pre-Approval. More information regarding the full application process can be found on our How to Apply page.
INSIGHTS
