Post your questions Debt Problems Credit Counseling Collection Agencies Payday Loan Help Credit Repair Pub Debt Consolidation Forums Forums Getting a loan or mortgage and avoid foreclosure Is there any mortgage available without prepayment penalty? Is there any mortgage available without prepayment penalty? Date: Wed, 03/28/2018 - 17:06 Submitted by Florita87 on Wed, 03/28/2018 - 17:06 Posts: Credits: [Donate] Is it mandatory that there will be a prepayment penalty in a mortgage loan I'm taking out? Total Replies: 4 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. DeleteEdit Submitted by Good Nelly on Thu, 03/29/2018 - 07:31 Good Nelly ( Posts: 2846 | Credits: ) 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. DeleteEdit Submitted by SC on Thu, 03/29/2018 - 20:27 SC ( Posts: 3937 | Credits: ) It depends on your lender and It depends on your lender and the agreement you've signed. But it's not mandatory. DeleteEdit Submitted by tiarajoseph11 on Fri, 03/30/2018 - 06:15 tiarajoseph11 ( Posts: 473 | Credits: ) 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. DeleteEdit Submitted by Sanders Patricia on Fri, 03/30/2018 - 06:15 Sanders Patricia ( Posts: 1241 | Credits: ) Add new comment Your name Subject Comment About text formats Text format Filtered HTMLRestricted HTML Restricted HTML Web page addresses and email addresses turn into links automatically.