Pre-payment Penalty
A provision within a contract (such as a mortgage or deed of trust) which states that a monetary penalty would be due to the lender in the event that the loan is prepaid early, or prior to a specified date.
A provision within a contract (such as a mortgage or deed of trust) which states that a monetary penalty would be due to the lender in the event that the loan is prepaid early, or prior to a specified date.
Arizona Mortgage Broker #0909566 NMLS #144884 Marquee Mortgage, LLC www.marqueemortgagellc.com