Personal finance

Andrea, an expert in economics: “You have to think that everything in life is negotiable. It’s the same with banks”

A TikTok economist explains why your first mortgage offer is rarely the best one and how to push for better terms.

Mario Espinosa de los Monteros Roddy Cons

Update: Jan 31st, 2026 12:05 EST

Buying a home is one of the biggest financial moves most Americans will ever make, yet many borrowers walk into the mortgage process assuming the bank sets the rules and the customer simply signs. According to one finance expert, that mindset can be costly.

Andrea, an economist and creator behind the TikTok account @the.minimal.lab, says borrowers should approach mortgage talks the same way they would any major purchase. Everything is negotiable, including with banks.

When applying for a mortgage, she argues, too many people accept the first offer they see, without realizing how much flexibility lenders often have built into their numbers.

Everything is negotiable, even with banks

Andrea frames it simply. In real life, almost everything is open to negotiation, and financial institutions are no exception.

“People see a bank as this big institution and feel intimidated,” she explains. “They assume nothing can be changed. That’s a mistake. Banks can adjust more than you think.”

She says many borrowers fail to question the details because they assume the terms are fixed. In reality, lenders often start with offers that leave room for adjustment, especially when they believe the client is shopping around.

The first offer is not the final offer

One of her key warnings is never to accept the first mortgage proposal without pushing back.

“The first offer is not the final one,” Andrea says. “Even if it looks good, don’t accept it right away. Banks usually build in a margin.”

She also stresses that borrowers should not focus only on the interest rate. In Spain she refers to TAE, which is similar to APR in the United States. APR includes interest plus most fees and total loan costs.

“Don’t just negotiate the interest rate. Negotiate the full package,” she says. “Look at the APR and all the associated costs, not just the headline number.”

Be careful with upfront incentives and add ons

Andrea also cautions against paying upfront for so called bonuses or bundled products that promise better loan terms, such as insurance packages or prepaid services tied to the mortgage.

Her reasoning is straightforward. Money today is more valuable than money later. Keeping cash in your pocket gives you flexibility and earning power.

“It’s better not to hand over money to the bank early so they can use it,” she says. “Hold onto your cash unless the numbers clearly work in your favor.”

Use competing offers as leverage

Another tactic she recommends is gathering quotes from multiple lenders and using them as leverage in negotiations.

Go back to your preferred bank and be direct. Tell them another lender is offering better terms and ask if they can match or beat them.

“That gets their attention,” Andrea says. “Use that card.”

At the same time, she warns borrowers not to reveal too much urgency. If a bank senses you are in a rush to close, your negotiating power drops and theirs rises.

“Even if you want to close quickly, don’t let the bank feel your urgency,” she says.

Push back and ask questions

Her overall message is that borrowers should stay alert, ask questions, and push for better terms instead of assuming the paperwork is set in stone.

Mortgage contracts are complex, and small percentage changes can mean thousands of dollars over the life of a loan. Persistence matters.

Keep pressing, review the fine print, and remember her core principle. Even the toughest terms can soften when you keep negotiating.