Can I change lenders after I am under contract?
Yes, you can change lenders after going under contract in Arizona. The purchase contract does not lock you to a specific lender, and buyers sometimes switch if they find better rates or terms, or if the original lender cannot perform. However, switching can delay closing because the new lender will need time to process your application, order an appraisal, and complete underwriting. If your contract has a financing contingency, make sure the new lender can close before that deadline expires. Communicate with the seller and your agent if timelines shift. The specifics depend on your situation and a licensed lender should confirm, and Jon can connect you with one.
Specifics depend on your situation and should be confirmed with a licensed lender. Jon can connect you with one: text (623) 826-0888.
More on mortgages and rates
- FHA vs conventional loan, which is better for me?
- Fixed-rate vs adjustable-rate mortgage, which should I choose?
- How do I shop mortgage lenders and compare quotes?
- When should I lock my mortgage rate and how long does a lock last?
- What are current mortgage rates in Arizona?
- Should I buy mortgage points to lower my rate?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.