Sorry I am not really loan terminology savvy but I am looking at a home loan that has a high interest rate(4%) and know there are systems in place where you are able to change you mortgage after 3 years to a new bank. I am wondering that if when I want to change to a new bank, I only need to pay back how much is left to pay without interest or I would have to pay back the expected amount after interest.
I apologize for my overwhelming ignorance. I had a pre approved loan from a bank and they backed out last min so I am scrambling for new options.
by Bronigiri