Getting current Lender to lower rate?

[fluff]

So I have a loan on my house, it is at 5.75 or so...Is it worth it to call the current lender and try to get them to lower the rate by telling them I will refinance with somebody else if they dont? What are the chances they will do that?

I would think they would be possibly willing to work with a solid borrower who has never had a late payment...

Does that happen?

 

[kmac30]

i had 5.875 on my mortgage. shopped around and got locked in at 4.75. i called my current company and told them i would like to give them the opportunity to keep my business. told them the quote and offered to send docs to verify. best they could do was 5.15%. they really didn't seem to care that i was leaving.

 

[chango]

Your lender just services your loan for the investor. They couldn't change the terms of your loan even if they wanted to. I'm sure they'll try to refinance you but that's it.