Is there any mortgage available without prepayment penalty?
Date: Wed, 03/28/2018 - 17:06
Is it mandatory that there will be a prepayment penalty in a mortgage loan I'm taking out?
Three is usually soft penalty
Three is usually soft penalty that the buyer can sell the home anytime without a prepayment penalty. Check your mortgage loan documents to know about it.
It isn't mandatory. You can
It isn't mandatory. You can always shop for a loan without a prepayment penalty. It will help you compare the overall cost and make a decision.
It depends on your lender and
It depends on your lender and the agreement you've signed. But it's not mandatory.
Sometime, you may have to pay
Sometime, you may have to pay a prepayment penalty for taking out a loan. However, you should talk to the lender regarding it.