early pay off

Read your mortgage note...or call your lender.

yes, sorry what was so stupid of me :oops:

Its funny how some lenders can be when it comes to paying off a loan early. They just barely told me that it is actually better to not pay it off too early but continue to pay more than the minimum each time. Its a weird system.

Usually they will tell you of this up front-whether or not they will reduce interest or fees when you pay early. You can also (as someone mentioned) view the contract and ask them about it.

Hi..I don't know about the other lenders but ... I borrowed loan from Cash Pawn and was supposed to payback the amount and interest within 10 months. Fortunately I was able to repay the remaining amount in 7th month. didn't have to pay any extra fee !! :)

It is better that you get in touch with your lender on this. You can also go through the loan documents. You're likely to find information saying whether or not you'll be charged for an early payment of loan. In case you're still under doubt, the best thin would be to call your lender and have your doubts clarified.