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Rate Shopping - How do you do it?

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DKF1016
"I got the Sugar" ..:)

Member since 5/05

1252 total posts

Name:
Gonnacatchapeacock

Rate Shopping - How do you do it?

Basically, if bank A says we'll offer you (all aspects equal) this loan at 5.85% and another bank you want to use (because they'll overlook CO's or something) says they'll give you 6%..how can you ask them to be competitive and say Bank A is giving me 5.85% -- will they ask for proof?
Will they take your word for it?

Posted 5/30/05 11:14 PM
 
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dengal
Dad of Twins

Member since 5/05

1385 total posts

Name:
The 80's Man
Let's Go Mets!

Re: Rate Shopping - How do you do it?

Just tell them the rate you want to do business with the,. If not, tell them you'll go somewhere else. It's sort of like buying a car - if they see you are willing to walk away, they'll try to work with you.

Posted 5/31/05 11:28 AM
 

jea128
...

Member since 5/05

3415 total posts

Name:

Re: Rate Shopping - How do you do it?

WE basically told our bank this is what Bank B will offer us, can you be competitive...if not, we'll have to use someone else. They beat the rate I was asking for and we are getting 4.75%

Posted 5/31/05 3:05 PM
 
 

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