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Are Interest Rates Negotiable?

Are Interest Rates Negotiable?

 Interest Rates Negotiable

Are interest rates negotiable? 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. This is why it pays to shop around for the best loan rates. And know the market so that you sound informed when talking to a lender. Read the published rates in local newspapers or check the growing number of Internet sites that publish such information. Also, always make a point to consider the interest rate along with the points to access which loan is truly the best.

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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Jamohl DeWald

One of my greatest joys as a real estate professional is handing over the keys of ownership to a first-time home buyer. As an experienced agent, I understand that preparation is important to avoid missteps with that first home purchase. I’m here to help with navigating the waters of those potential missteps.

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