Big banks vs small local banks

[Kevin N.]

In general, which bank give you better interest rates?

[Rob Beland]

It's not that easy of a question to ask. Big banks have more resources at their disposal and generally have more money so they can theoretically offer better rates. Local banks know you and your situation and if there is something negative on your credit that would force BofA to deny your loan application, you could likely have a conversation with the underwriter of your local bank and they may give you the loan. A higher interest rate from a local bank is now a better interest rate than a denied loan.