A fee charged to a borrower who pays off a mortgage loan balance befor it is due. Not normall charged for more than five years.

A penalty charged for paying off a mortgage early.

Fees charged to a borrower who pays off his or her loan balance before it is due.

The costs incurred when prepaying a debt before the date specified in a loan or credit agreement, when cost-free prepayments are not allowed. Sometimes referred to as break costs.