Fort Lauderdale, Fl
So you're ready to get pre-approved for a home loan. You begin shopping around at several lenders and you realize that interest rates vary. This gets you thinking: can you negotiate your interest rates like you can negotiate the price of your new home?
The answer isn't so simple, because it depends who you negotiate with. Some lenders are willing to haggle on both the loan rate and the number of points, but this is not typical among more established lenders.
Always make a point to consider the interest rate along with the points to access which loan is truly the best.
If you're really set on talking down that interest rate, you may want to opt for non-traditional financing options. Interest rates are much more open to negotiation on purchases that involve seller financing. While they are usually based on market rates, some flexibility exists when negotiating on the rate.
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