I currently have a home equity loan at a fixed rate of approximtely 7%. With rates decreasing so much lately, is there any way to get a fixed rate reduced?
Certainly. Apply for a new loan at another lender to pay this one off, and/or ask the current lender what the cost would be to renew your current loan at today's rates.
Obviously your property, equity, and other credit qualifications will influence the terms you can get, but be prepared for more paperwork than before. Mortgage loans are tighter now and better documented.
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Certainly. Apply for a new loan at another lender to pay this one off, and/or ask the current lender what the cost would be to renew your current loan at today's rates.