Rate Shopping - How do you do it?

Basically, if bank A says we'll offer you (all aspects equal) this loan at 5.85% and another bank you want to use (because they'll overlook CO's or something) says they'll give you 6%..how can you ask them to be competitive and say Bank A is giving me 5.85% -- will they ask for proof?
Will they take your word for it?

Re: Rate Shopping - How do you do it?

Just tell them the rate you want to do business with the,. If not, tell them you'll go somewhere else. It's sort of like buying a car - if they see you are willing to walk away, they'll try to work with you.

Re: Rate Shopping - How do you do it?

WE basically told our bank this is what Bank B will offer us, can you be competitive...if not, we'll have to use someone else. They beat the rate I was asking for and we are getting 4.75%