Is it possible to negotiate my mortgage rate like a credit card rate?
Mortgage
negotiate_mortgage asked:
My wife and I have a 30 yr. fixed @ 5.75% w/Citimortgage. We not only pay on time, but typically make 3 additional payments/ year. With the loan market being as it is….can you negotiate with your mortgage rate?
Philip
My wife and I have a 30 yr. fixed @ 5.75% w/Citimortgage. We not only pay on time, but typically make 3 additional payments/ year. With the loan market being as it is….can you negotiate with your mortgage rate?
Philip
May 25th, 2009 at 7:02 am
Monica
everything is negotiable, but at 5.75%, you probably aren’t going to get much lower.
May 28th, 2009 at 4:51 pm
Samantha
That’s a great rate - if you had to buy today it would be higher
May 29th, 2009 at 5:47 pm
Rita
You have a pretty good rate on your mortgage now !!
However, it wouldn’t hurt to ask. When you call Citimortgage tell them you want a rate/term refinance. Depending on what your debt to income is you may want to consider a 15 year term instead of 30 !!! This will not only lower your rate but you will save a ton of money over the life of the loan.