Quote:
Originally Posted by JustAnotherGuy
I typically go for a 2-3 years for my mortgage. I now go through a mortgage broker. Let them find me the best deal. Before I used to deal with the same bank every time. Which is fine if that is what you are comfortable with.
When dealing with the bank I always got a lower rate when I asked for one. So just say 4.35% is not good enough. What can you lower it to? Let them go figure something out. They will probably do the ole.. "Pretend to go to his bosses office to get the better rate but not really do anything and then come back and drop the rate"
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I have a friend that is a broker, he sent me the rates, I then called my lender and asked them to match the lowest rate and they obliged.
Had I enough equity in my house to move the mortgage and give my buddy some business I would have. But, I'm stuck with my lender. I'm not sure if they knew that or not, but they obliged and I'm happy. That's more likely going to have me stay there for the duration of the mortgage assuming they treat me well.
Your lender should give you a competitive rate if you know what to ask for. That said, I don't recommend using a broker and not giving them the business in return.