Applied with Bank of America for the reduced loan rate. Application was denied as paying on time. House or property is in Florida and mortgage owed on it is more than it is worth ( low loan to value ratio ). XXXX XXXX XXXX XXXX and house valued is in low XXXX. What are my options? Is the bank allowed to deny my request for a lower interest rate? Currently have a 6.75 % rate. Would like a lower rate from the bank. Is that possible? 
