I want to refi my condo. My credit report qualifies me for the lowest interest rate. My lender says 4% is the best I can do (without purchasing a lower rate) because condos don't receive the same interest rates as single family dwellings. Is this accurate? How can I tell if I am getting the best deal that's available?
That is correct. Condos have a rate bump over singles because the risk is higher for the lender.