A fee paid for the advance of a partial or payment in full prior to the contractual due date of the mortgage.
A fee paid to the mortgagee for paying the mortgage before it becomes due. Also known as pre-payment fee or reinvestment fee.
a fee that is charged to by the lender if you refinance or sell your home within a given period of time
a fee that the borrower will pay the lender if he pays off the loan early
a one-time penalty fee paid to the lender if you pay off a home equity loan earlier than planned
a penalty charged if the mortgage loan is paid off in its entirety earlier than the specified term of the loan
a penalty that your lender assesses if you make pre-payments to your principal balance or if you pay off your loan before the maturity date
A penalty assessed against a borrower for paying a mortgage loan off before the expiration of the original term of the loan.
A cost incurred to the borrower for early settlement of a loan or mortgage.
a fee charge to a borrower who pays off a loan before it is due (most do not have prepayment penalties).
A penalty fee charged to a borrower who pays off a personal loan before the term of the loan is complete.
A fee charged to a borrower who pays a loan before its due. Not allowed for FHA or VA loans.
The penalty (if any) that a borrower must pay to a lender if a loan is repaid "early." With private money, most loans have a three- to six-month minimum interest clause. This means that a loan must return at least three or six months in interest to the lender. For example, if a loan is repaid in six months or more, no penalty is assessed. However, if a loan is repaid in less than six months, the penalty is equal to six months interest less the interest already paid.
A fee that may be charged to a borrower who pays off a loan before it is due.
A fee charged by the lender when the borrower prepays all or part of a closed mortgage more quickly than as set out in the mortgage agreement.
Many ARM loans contain a provision against pre-payment without penalty. Terms of pre-payment penalty clauses vary from product to product, investor to investor, and state to state. Many states and even local municipalities have, or are contemplating, enacting legislation against pre-payment penalties associated with “high cost†loans.
A penalty charged by lenders for early payoff of a loan, usually six months interest on 80% of the loan balance at payoff.
A charge imposed by the lender if the borrower pays off the loan early. The charge is usually expressed as a percent of the loan balance at the time of prepayment, or a specified number of months interest.
A charge levied by the lender to the borrower for paying off a mortgage before its maturity date.
A fee imposed by certain lenders if the mortgage is paid off before it matures.
A fee imposed by certain lenders when borrowers retire their mortgage debt early.
A charge imposed for paying off a mortgage earlier than stipulated in the mortgage document (always remember to review the terms of your loan product closely before you decide to utilize that product. A prepayment penalty may negate the advantage of going with a specific loan product depending on how early you plan on paying that loan off. Call us, we’re here to help!).
A fee imposed by certain lenders if the first mortgage is paid off early.
A penalty found in a Promissory Note imposed by the lender when the loan is paid before it is due.
Some loans penalize you if you pay off your loan early. These loans typically require that you keep the mortgage for 2 to 5 years or pay a penalty to the original lender for the privilege of paying off the loan early.
Money charged for an early repayment of debt.
A penalty under a note, mortgage, or deed or trust, imposed when the loan is paid before it is due.
Charge imposed by a lender for payment of a debt before due date.
A fee charged by a lender if the borrower pays the loan off early, generally to make up for interest the lender anticipated earning but will not earn as a result of the payoff. Not all loans have a prepayment penalty. Sometimes a loan will have an optional prepayment penalty in exchange for a lower rate or fee.
A charge imposed by a mortgage lender on a borrower who wants to pay off part or all of a mortgage loan in advance of schedule.