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Whats the cheapest interest we can get in a loan or monthly payment?

does 1 or 2% interest exist? or is the cheapest 4%?

Answer Question

Asked by Anonymous at 12:59 AM on Sep. 29, 2009 in Money & Work

Answers (6)
  • It all depends on what the lender is willing to do with your credit rating. If you're the same person who asked about interest for a family member: that's a rate the two of you can set and then PUT IN WRITING as a binding contract. If that family member is someow borrowing money to lend to you, then expect to pay whatevre they are paying.

    If you're going to a bank, the bank will tell you your interest rate.

    Answer by gdiamante at 1:27 AM on Sep. 29, 2009

  • it all depends on the day you finalize and your credit, the rates change almost daily sometimes. while we were loooking for a house the rate changed several times the best thing to do is have the person working on your loan keep a close eye on it while your looking for a house. Right now 4 % is pretty low.

    Answer by 3_ring_circus_ at 1:28 AM on Sep. 29, 2009

  • It really depends on your credit. My father is 50 and has 0% on a new SUV (will be paid off in 3 years because of that) he just bought and like 2% on his boat. He has like the best credit ever though. He has probally NEVER missed a payment on anything. You have to work for that type of credit.
    There is 3% for 6 months (and then 20% after that) so make sure you know ALL the details

    Answer by Anonymous at 4:06 AM on Sep. 29, 2009

  • Your best bet is to contact a Lender. After your first quote, ask them to beat their offer in total cost...not just points/fees...or rate when shopping for a home. Each Lender should be prepared to show you at least two, if not three OPTIONS with varied costs associated with each set of terms fully disclosed in a simple to understand format...and get it in writing to review..ask for an Excel Spreadsheet by E mail. After you have worked with your first lender, you have a 30 day window to shop the offer with other lenders without damaging your credit SCORE. Each Lender you allow to pull your credit will show in your credit history as an Inquiry..but will not affect your SCORE during that 30 day window. There are a few really good websites, such as, and via (they offer Aisle19 customers cash back on points and fees) ou must be a member of Aisle19,upon request I can provide referal

    Answer by Cheapsk8mom at 6:19 AM on Sep. 29, 2009

  • How about free with a Pre-Piad Legal Services Plan.

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    Now before you get skeptical, check this article out,

    Employers are offering these plans to thier employees and they are a big hit!

    They will save you a ton, for as little as $27.

    You can look at our plans by going to

    Way cheaper than $400!

    Email me if you have any questions


    Answer by IraqiVetWife at 10:04 AM on Sep. 29, 2009

  • Pre Paid Legal is a scam.

    Answer by Anonymous at 11:38 AM on Sep. 29, 2009

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