interest rate

[Jimmy Buffett]

I got an email from my lender today saying that they can lower my locked in rate from 5.25% to 4.5%. Costs me $350 and sign my name a few times. How's that for service!

 

[Bubbles Galore]

I wish I could get a letter like that?

 

[bigleo48]

Sound too good to be true...I'd be looking for a catch.

 

[Jimmy Buffett]

Same loan, different rate. This is the second time we've done it. 75 basis points drop each time.

 

[Greg Pack]

That's awesome!

 

[washnvac]

Is your lender a local or a national? I have never heard of rates like that for a commercial car wash that is fixed. I'll give you a $350 finders fee if you can get me hooked up at 4.50% on $2.5M for two washes.

I am at 6.5% fixed for 5 years with on time payment history for the past 16 years.

 

[dogwasher]

Send the lender my way please!

 

[Waxman]

All I did was call my banker and they lowered my rate (no cost at all) from 6.5% fixed to 5.95% fixed. Not a big reduction, but no cost and is a fixed rate. 4.5% would be nice, though.

 

[Jimmy Buffett]

Farm Credit is my lender. I think you have to have some farm income to use them but I'm not sure.

 

[Greg Pack]

I run a mud farm at my car wash. Think that would fly?

 

[Jimmy Buffett]

I wouldn't be afraid to ask. They like to make loans.

 

[washnvac]

I emailed my local office this morning. We shall see. Thanks.