Refinancing Home Mortgage
In: Mortgage Rate
5 Feb 2010My 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?
This is about mortgage information questions.
3 Responses to Is it possible to negotiate my mortgage rate like a credit card rate?
discostu
February 5th, 2010 at 3:39 am
everything is negotiable, but at 5.75%, you probably aren’t going to get much lower.
Yvonne H
February 5th, 2010 at 4:27 am
That’s a great rate – if you had to buy today it would be higher
Lori N
February 5th, 2010 at 5:27 am
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.