Covid rate reduction?
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Covid rate reduction? (by DonV [OH]) Jan 10, 2021 5:39 AM
       Covid rate reduction? (by NE [PA]) Jan 10, 2021 5:47 AM
       Covid rate reduction? (by LisaFL [FL]) Jan 10, 2021 8:03 AM
       Covid rate reduction? (by Nellie [ME]) Jan 10, 2021 8:52 AM
       Covid rate reduction? (by Oregon Woodsmoke [ID]) Jan 10, 2021 11:58 AM
       Covid rate reduction? (by DonV [OH]) Jan 10, 2021 2:05 PM
       Covid rate reduction? (by Ray-N-Pa [PA]) Jan 10, 2021 6:36 PM
       Covid rate reduction? (by DonV [OH]) Jan 11, 2021 8:31 AM
       Covid rate reduction? (by Nellie [ME]) Jan 11, 2021 11:08 AM
       Covid rate reduction? (by Homer [TX]) Jan 11, 2021 11:58 AM

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Covid rate reduction? (by DonV [OH]) Posted on: Jan 10, 2021 5:39 AM
Message:

Anyone try to call the bank and ask for a reduced interest rate because of covid? Can't hurt to try......

--76.189.xxx.xxx




Covid rate reduction? (by NE [PA]) Posted on: Jan 10, 2021 5:47 AM
Message:

I wouldn't unless my income was extremely impacted due to it. --70.44.xxx.xx




Covid rate reduction? (by LisaFL [FL]) Posted on: Jan 10, 2021 8:03 AM
Message:

I doubt anyone at the bank would have that authority. I do have some private loans. Iím the lender. I had one person ask. It took me aback because the guy is wealthy. He is savvy. --75.89.xxx.xxx




Covid rate reduction? (by Nellie [ME]) Posted on: Jan 10, 2021 8:52 AM
Message:

My bank is doing reduced interest rates, but because rates have fallen, not due to covid. They are giving me a 1.25% reduction. Which isnít as much as I wanted, but I guess Iíll take it. Better than no change and it will make a good long term savings. --70.16.xxx.xxx




Covid rate reduction? (by Oregon Woodsmoke [ID]) Posted on: Jan 10, 2021 11:58 AM
Message:

They will give you a lower rate if you refinance. Cost of refinancing is too high for the small reduction I'd get.

If anyone with a fixed rate is getting a rate reduction "just because" without doing a refinance, please let us know how you did it.

(DonV, good idea. I'll give it a try) --76.178.xx.xx




Covid rate reduction? (by DonV [OH]) Posted on: Jan 10, 2021 2:05 PM
Message:

Reduced rates - just by asking? Refi? Thanks! --76.189.xxx.xxx




Covid rate reduction? (by Ray-N-Pa [PA]) Posted on: Jan 10, 2021 6:36 PM
Message:

DonV

Do you have a standard residential loan or a commercial loan ? --24.101.xxx.xx




Covid rate reduction? (by DonV [OH]) Posted on: Jan 11, 2021 8:31 AM
Message:

Residential --76.189.xxx.xxx




Covid rate reduction? (by Nellie [ME]) Posted on: Jan 11, 2021 11:08 AM
Message:

Mine is commercial. And it is being done as just a rewrite and will have 5 years fixed (restarting the 5 years fixed), so not entirely displeased. About $1000 in fees to do it. We are going to pay down the loan by the amount we save in closing costs, so in the end it is not too bad of an offer. --70.16.xxx.xxx




Covid rate reduction? (by Homer [TX]) Posted on: Jan 11, 2021 11:58 AM
Message:

I got rate reductions on two loans. At two local banks. Basically called and asked, I said I could either pay off, and I asked if they wanted to reduce the rate , and I would pay off a different one. They both cut for me a point, with a single piece of paper signed. I also called the big boys, they were only willing to do a refi, with all those additional fees. Guess which one I paid off. Thatís right. The highest interest ( 6.25). Big bank loan. --66.169.xxx.xxx



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