Mortgage fees: Prepayment penalties

External Author |

A prepayment penalty is a fee that your mortgage lender may charge if you:

  • pay more than the allowed additional amount toward your mortgage
  • break your mortgage contract
  • transfer your mortgage to another lender before the end of your term
  • pay back your entire mortgage before the end of your term, including when you sell your home

 Read More

Original Article Source Credits:   Canada.ca , https://www.canada.ca/

Article Written By:  NA

Original Article Posted on:  2020-09-15

Link to Original Article:  https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html

BACK