Many on-line mortgage lenders may offer consumers a "quick rate quote", promising a rate quote within minutes of filling up a form with minimal information gathered. But are the rate quotes any good? These rate quotes generally come with a mile-long disclaimers, often in fine print.
The bottom line is that a true rate quote can only be given by the lender whom has actually received a completed application and has verified your credit. Even then, the rate quote may still be changed by the lender until the loan rate is actually locked in.
To avoid confusion and potential disappointment, consult with a mortgage broker you can trust and ask questions. A mortgage broker will be able to assess your current credit situation and present you with a more realistic interest rate landscape.