Appreciation post: my lender called me at 7am with better rate news

I locked in at 6.8% last week but my credit union just dropped to 6.4% and they adjusted my rate before closing. Has anyone else had a lender proactively do something nice like that?

2 comments

2 Comments

jesse98818d ago

Did you catch that article about how most lenders just sell your loan off before you even make the first payment? That's what I read last week, so hearing about a credit union doing something like this is pretty wild. Most places wouldn't lower your rate unless you asked, and even then they'd probably give you the runaround. Your credit union sounds like one of the good ones, honestly. It's refreshing to hear about a lender actually looking out for you instead of just collecting your payment every month.

stella_roberts18d ago

jesse988 you nailed it with that "look out for you" part. That's the real difference between a credit union and a big bank. My credit union didn't just lower my rate when rates dropped, they actually sent me a letter about it without me asking. Meanwhile my friend with a different bank has been on the phone for weeks trying to get a simple rate review done. It's like the big banks hope you forget to ask so they can keep making more money off you. Have you ever had a lender actually reach out to you first like that?