Did you know that it's possible to get your interest rates lowered on your loans with a simple phone call to the lender?
Recently I made a call to the bank to see if we could get our home equity loan rate lowered and in a matter of minutes (10-15) the representative came back and said sure - we can do that! For our loan it was going to be about 3% lower - we didn't want to change our payment amount, just the interest rate, which meant that we would pay off our loan at a faster rate!
Some banks charge a fee to do this, so make sure that the interest savings is going to be greater than the fee, or else it's not such a good deal...
So, make the call! All they can do is tell you no, but at least you know you tried to save yourself some money!
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