Many lenders are willing to negotiate interest rates, especially if you make it clear that they won't be getting your business otherwise. These days, with the rise of risk-based pricing formulas, consumers with excellent credit have more negotiating leverage than ever before. You can't negotiate in a vacuum, however. Shop carefully, so you know what you should be negotiating for. To get someone to match or beat the best deal around, you have to know what the best deal is.
Lenders usually have a pretty good feel for the market.
Recognize the three types of negotiating leverage you have. If you're already a customer, a lender will try very hard not to let you find out that the money may be greener on the other side of town. When asking for a better deal, tell the lender exactly how long you've been a loyal customer and how much you have on deposit. If you're likely to bring a lot of future business to a lender, you can drive a harder bargain. The lender's attorney's fees.