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Can a mortgage rate be negotiated?

Started by nyny999
over 16 years ago
Posts: 8
Member since: Apr 2009
Discussion about
If a couple has excellent credit scores and is putting down a large downpayment, can the mortgage rate be negotiated to be lower than what the bank is advertising? Or is the published rate the automatic rate?
Response by GettingOut
over 16 years ago
Posts: 64
Member since: May 2008

Occasionally there are other rates available through brokers but usually there isn't a lot of flexibility to negotiate rates with an individual bank...

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Response by REMom
over 16 years ago
Posts: 307
Member since: Apr 2009

Call a mortgage broker and all the large banks independently. (Most of the large banks no longer work with mortgage brokers.) The rate I got is 50 bps lower than anything advertised anywhere.

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