All mortgage loans are not created equal. If you are looking for a loan, you have probably discovered the array of loan types and options. It can be confusing forthe first-time borrowerand are easier to qualify for than conventional loans. They are also guaranteed to the lender, which allows the borrower to obtain more favorable loan terms.

You an switch any time you wish but if you do there may be charges involved. There will also be charges involved in setting up a new mortgage.

Read the small print to find out.

it may be better to stay where you are.

Ian M

Many lenders have a fee for paying off the debt too early.. it is usually 1-2 years. Check your contract or call the company and ask them if its too early to do a pay off.

You can do whatever you want. It would be best to stay with them for a few months to establish a paying history. Usually too a lender will sell off your loan to another company so keep that in mind. Do whatever feels right for you, but no, there’s no time limit on changing lenders.