My broker just saved me $12k on my home loan in Chicago

I got a pre-approval from my local bank last month for a 6.8% rate on a $300k loan. My broker ran my info again this week and found a credit union offering 6.2%. The lower rate drops my monthly payment by about $100, which adds up fast. Anyone else in a competitive market had a broker find a better deal like this?

3 comments

3 Comments

mason.faith1mo ago

Same thing happened with my car loan.

jennifer3581mo ago

My broker in Phoenix just saved me 8k on a refi last year.

the_seth3d ago

Wait, did you check if the 8k savings came with a higher rate or longer term than you actually needed? A lot of brokers hide the real cost in extended payoff timelines or points you didn't notice. Always run the numbers yourself - their math can be real creative.