Posted on: 12th Jan, 2010 12:25 pm
We purchased a home a few months ago. The developer was giving us lots of cash and incentives if we used their mortgage company, so of course, we agreed to do so.
We're about 3 months away from closing. Do you think I can negotiate my interest rate with them?
We're about 3 months away from closing. Do you think I can negotiate my interest rate with them?
nothing ventured, nothing gained.
These people need to sell their homes pretty badly. You have alot going for you in today's market and therefore I would highly recommend attempting to see if you can get a better interest rate before closing.
Do I have room to negotiate though? I agree that I never know until I actually try it, but I don't really want to come across as a fool (not that it matters).
I've already given the builder 10% (though it's sitting in an attorney escrow account at my request), and we do have an agreement that I'd use their mortgage company.
At what angles can I come from? I'm a member of a credit union who has always given me great rates. Should I reach out to them, see what rate I can get from them, and then use that against the mortgage company?
I've already given the builder 10% (though it's sitting in an attorney escrow account at my request), and we do have an agreement that I'd use their mortgage company.
At what angles can I come from? I'm a member of a credit union who has always given me great rates. Should I reach out to them, see what rate I can get from them, and then use that against the mortgage company?
you could do that - not convinced that it would make much difference with the builder though.
Yeah, that's what I'm hesitant about... don't think I have any chips on my side to really negotiate
no hesitation needed - all that can happen if you ask is the builder says "sorry, charlie."