Is it possible to find a lower interest rate loan?

[JohnB445]

I have a $25,000 loan with a 11% interest rate, and that's per year. I'm paying this thing off $600 a month.

With a 770 credit score, and just 2 years of credit history. Is this possible?

My plan is to find a loan with a lower interest rate, and pay the high interest rate one off.

 

[SavedByGrace3]

Wow... your rating is pretty high. I would think you should be able to find a better rate. I am retired and have not asked for a loan for 25 years, so I am kind of in the dark here. Just seems 11 is really high, even for those who are a credit risk.

 

[HTacianas]

I have a $25,000 loan with a 11% interest rate, and that's per year. I'm paying this thing off $600 a month.

With a 770 credit score, and just 2 years of credit history. Is this possible?

My plan is to find a loan with a lower interest rate, and pay the high interest rate one off.

Try refinancing it through a credit union. They can usually give you a better rate.

 

[GDL]

Try the other suggestions and if your payment on the $25k comes down if you pay part of the balance off, look at zero interest credit cards. Check for the longest term and the lowest transfer fee. Use the card funds to pay down the $25k and the savings in payments to pay off the card before the zero-interest term expires. Mix and match concepts to get the rate down as far as possible.

 

[Blade]

Ask your Father of our lord Jesus Christ who said to Sarah as she laughed "what is to hard for the lord". He can do anything.. with just a whisper.. so pray and ask then BELIEVE.

Praying

 

[WilliamMikesy]

It's great that you're looking to explore options for a lower interest-rate loan. With your solid credit score and a couple of years of credit history, you have a good chance of finding a loan with a lower interest rate.
If you're interested in exploring mortgage options in Florida, you can check out the florida mortgage caclulator. It can help you estimate your monthly payments and compare different scenarios.
Consider reaching out to different lenders and financial institutions to discuss your current loan and see if they can offer you a better interest rate. With your creditworthiness, you may be able to negotiate a more favorable rate.