mortgage broker edmonton Mortgage Moment: Prepay Penalty (#5945)

A prepayment penalty is a provision of your contract with the lender that states that in the event you pay off the loan entirely, you will pay a penalty. Penalties are usually expressed as a percent of the outstanding balance at time of prepayment, or a specified number of months of interest.

Segment #5945 from "Michael Holigan's Your New House" Home Improvement TV Show

mortgage broker edmonton Mortgage Moment: Prepay Penalty (#5945)
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