Avoid This Costly Mortgage Mistake: What You Don’t Know About Prepayment Penalties!
- Rachel Sheller
- Nov 21, 2024
- 1 min read
Are you paying down your mortgage early, only to find there could be a hidden fee waiting to catch you off guard? In this episode, Rachel Sheller uncovers the truth about prepayment penalties—a little-known mortgage term that could impact your finances if you’re planning to refinance, sell your home, or pay off your loan ahead of schedule.
Learn:
What a prepayment penalty is and why lenders include them.
Why these penalties are less common today but still worth checking for.
Smart tips to protect yourself by asking the right questions and reading your loan terms carefully.
Whether you’re a first-time buyer or a seasoned homeowner, understanding this potential pitfall can save you money and stress.
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