Prepayment Penalty  Mortgage Glossary

Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:



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Prepayment Penalty

Some mortgages have a penalty payable if the mortgage is paid off early. The penalty is sometimes linked to the amount of the mortgage remaining or may be a flat fee.

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3%

 

 

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Questions & Answers

Read about general questions asked by brokers and lenders and the best ways to answer...

Mortgage Glossary

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