---
title: Can condo association loan be refinanced for less money?
description: We have been using North Shore Bank for our association loan. We took out $500k four years ago and paid it down to $340. With lower rates we asked them
---

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# Can condo association loan be refinanced for less money?

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## What do you think? Question:

We have been using North Shore Bank for our condo association loan. We took out $500K four years ago and paid it down to $340K.  With lower rates we asked them to refinance their answer was: "Not interested" asked them why? What is the criteria to refinance? The VP just kept saying "We are not interested, you can get a refinance from another bank at a lower rate and we will not waive the early prepayment penalty." Is this the norm at association banks? or was this VP just being....

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## What do you think? Answers (9)

#### What are your thoughts on this topic?

***Comments and postings are not legal advice**, but are the opinions of our readers. This forum and its contents are being monitored. Please be respectful of each other. *  
  

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