I've tried mentioning competitor rates before, but honestly, lenders usually seem pretty set in their ways from what I've experienced. Maybe it's less about competitor specifics and more about how eager they are to close the deal at that particular moment? Timing might have more influence than we think. I once got a slight fee reduction just because it was end of quarter and they needed to hit some numbers... coincidence or strategy? Hard to say.
Good point about timing. I've noticed similar patterns:
- End-of-month or quarter definitely seems strategic rather than coincidental.
- Wonder if loan officers have monthly quotas influencing flexibility?
- Anyone tried negotiating mid-month vs. end-month and seen different outcomes? Curious if there's a noticeable pattern there...
I've definitely noticed loan officers being more flexible toward the end of the month, likely due to quotas or internal targets. But I'm wondering if it's just timing or also the type of loan? For instance, do unconventional loans or those borderline approvals get more wiggle room at month-end compared to standard ones? Might be worth looking into whether certain loan types are more sensitive to timing than others...
"For instance, do unconventional loans or those borderline approvals get more wiggle room at month-end compared to standard ones?"
I've noticed something similar when refinancing my home last year. My loan was a bit unconventional due to self-employment income, and initially, the lender seemed hesitant. But as we approached month-end, they suddenly became more accommodating—asking fewer questions and speeding things along. It felt like they were motivated by internal targets or quotas. Timing definitely matters, but I think the complexity of the loan also plays a role in how flexible lenders become...
"Timing definitely matters, but I think the complexity of the loan also plays a role in how flexible lenders become..."
You're onto something here. Lenders do have monthly quotas and internal goals, so sometimes they'll loosen up a bit as month-end approaches—especially if they're close to hitting their numbers. But I'd caution against assuming that's always the case. I've seen plenty of unconventional loans get turned down even at month-end because the lender's risk tolerance just wasn't there.
From my experience, it's more about how clearly you can document your situation step-by-step. If you're self-employed or have irregular income streams, lenders get nervous because they can't easily tick their usual boxes. The key is to present your financial story in a way that's easy for them to follow—think clear documentation, organized tax returns, and maybe even a quick summary sheet highlighting your income stability.
Sure, timing can help...but don't rely on it too heavily. Better to focus on making your unconventional loan look as conventional as possible on paper.
