https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sun, 12 Apr 2026 07:30:17 +0000 https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2515221 Mon, 04 Apr 2016 16:28:06 +0000 sunny 2515221@https://boards.hellobee.com/ <p>@birdofafeather: If the rate delta is big enough you could try doing an immediate refi if your loan doesn't have any prepayment penalties. </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2515218 Mon, 04 Apr 2016 16:20:22 +0000 birdofafeather 2515218@https://boards.hellobee.com/ <p>@DenverMom: i spoke with him and reminded him of his email but he's saying that what we have is the lowest and he did run the numbers with the CU and we could try to use them.... but we're supposed to close in 2 weeks so it's a moot point because i'm not going to risk losing our house over it! i'm choosing to focus on the fact that our rate is still low and lower than even january was. i helped my brother out though because he went with the CU and just locked in that low rate! :P </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514887 Mon, 04 Apr 2016 13:13:00 +0000 DenverMom 2514887@https://boards.hellobee.com/ <p>@birdofafeather: I specifically went with a company that said that if the rates went down, they would lower the interest rate to the new rate, even if we were locked in. They ended up honoring their promise and we got the lower rate. Do you have an email, or something in writing, where they said that your locked in rate could go down? If so, I would push till you got an answer one way or the other. I mean, what's the point of them saying that if they won't honor it? </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514774 Mon, 04 Apr 2016 12:09:03 +0000 birdofafeather 2514774@https://boards.hellobee.com/ <p>@dc yoga bee: yikes! How stressful but glad it worked out for you! </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514769 Mon, 04 Apr 2016 12:05:17 +0000 birdofafeather 2514769@https://boards.hellobee.com/ <p>@kodybear: @hellobeeboston: in reading back to prior emails, our lender says we have a couple days to play with to lock in our rate due to market fluctuations (after assuring we wouldn't pay more than the quoted rate) so hopefully he wasn't just blowing smoke up my butt. 😁 The rate I see now is .375% lower so it's significant! </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514752 Mon, 04 Apr 2016 11:53:21 +0000 dc yoga bee 2514752@https://boards.hellobee.com/ <p>We could pay $1000 to get to adjust our rate one time if it became lower than what we locked. They waived the $1000 and we locked in a rate closer to closing. Then, our closing was delayed by a day and they didn't tell us, and we were butting up to our lease ending and they lowered our rate by another .25 and gave us another $1000 back at closing for our inconvenience. So, I think they want happy customers, because you can go anywhere. Try it and see! We also went through the builder's lender so it wasn't one of the big banks. They secure the loan and then sell it to Chase, Penny Mac, etc... Good luck!! </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514746 Mon, 04 Apr 2016 11:50:29 +0000 hellobeeboston 2514746@https://boards.hellobee.com/ <p>If they locked the rate for you (for 30, 60, 90 days, whatever is in your contract) then you probably will not be able to get the lower rate.</p> <p>how long did they lock the rate for? depending on when you're closing, you could see if you could push out the close date and re-lock the lower rate, but i'm not sure you'll be able to do that this late in the game... you can always refinance in a year if the rate is still lower. </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514738 Mon, 04 Apr 2016 11:44:56 +0000 kodybear 2514738@https://boards.hellobee.com/ <p>we tried this as well, but they wouldn't lower the rate. we locked in a rate, and they would not change it if the rate went up or down. :-/ hopefully you have more success. you could always try another company (or threaten that you will.. haha) but iit would slow the close of escrow down. </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514719 Mon, 04 Apr 2016 11:27:20 +0000 birdofafeather 2514719@https://boards.hellobee.com/ <p>@BadgerMom: if we could do that, we would get that $$ back within the year! Definitely worth it for us. Thanks for the feedback! </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514712 Mon, 04 Apr 2016 11:21:37 +0000 birdofafeather 2514712@https://boards.hellobee.com/ <p>@jetsa: we were told we were locked in in the sense that it won't go up, could go down, so that's why I've kept an eye out. </p> <p>@MaryM: I am comparing our CU to our current lender. Whenever he's quoted us, I compare the CU's rates and they're the same. We're actually in ideal conditions so I feel like we should be getting the best of the best! He explained the other lenders who are undercutting to get people in the door with lower rates but end up with other issues so I stopped looking at other rates (besides the CU) because of that. </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514710 Mon, 04 Apr 2016 11:19:09 +0000 BadgerMom 2514710@https://boards.hellobee.com/ <p>At this point I would guess that they've already "locked" in your rate. We had this happen too, and we were able to switch to the lower current rate but we had to pay a fee. I think ours was $500. </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514702 Mon, 04 Apr 2016 11:11:21 +0000 MaryM 2514702@https://boards.hellobee.com/ <p>If you aren't locked in, you can lower rates right up until you buy. </p> <p>One thing to pay attention to, is that the rates that are advertised are not under ideal circumstances. When they quote the lowest rates, read the small print. That could be that rate only applies if you're putting down 20% or more, or paying for a certain number of points, or meeting other specifications. </p> <p>DH and I ended up comparing our credit union to a broker because we felt like we weren't getting the best deal when we were hearing about lower rates, but they ended up agreeing that it was 6 one way, half a dozen the other. </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514675 Mon, 04 Apr 2016 10:57:16 +0000 jetsa 2514675@https://boards.hellobee.com/ <p>Did you lock in a rate at the beginning of the process? If so, I think you are out of luck if not they should choose the lowest rate between what it was when you began and what it is when you close. </p> https://boards.hellobee.com/topic/lowering-interest-rate-during-escrow#post-2514670 Mon, 04 Apr 2016 10:52:53 +0000 birdofafeather 2514670@https://boards.hellobee.com/ <p>We're in process of buying a home. The rate we have now is low which is great, but rates just dropped even more so we'd like to get it even lower if possible. We're not yet closing but within 2 weeks. I've brought it up with my lender, but I didn't get the feeling he was going to be going to bat to get a lower rate for us (with good reason since it's not like we can go with someone else at this point in the game!). But I'd like to push the issue more since even a small change means saving many thousands over the life of the loan!</p> <p>Anyone able to successfully lower their rate during escrow? Can you tell me how you did it? </p>