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Phrases with «mortgage prepayment»

"Mortgage prepayment" refers to paying off a portion or the entire amount of a mortgage loan before the scheduled payment term. It allows borrowers to make extra payments to reduce their debt faster, potentially saving on interest and shortening the overall mortgage term. Full definition

Related phrases

Sentences with «mortgage prepayment»

  • After RBC, this is another significant step forward by a major lender to offer a full public explanation of mortgage prepayment penalty charges. (canadianmortgageadvisor.ca)
  • Stanley says it's a paper transfer — the client still owes the same amount, but using the line of credit to make mortgage prepayments saves time and interest. (remonline.com)
  • The government intends to establish an expert panel to study the scope for an Adult Fitness Tax Credit; it also has an initiative in progress to investigate the price gap between U.S. and Canadian goods and services, plus a commitment to work with mortgage lenders to improve voluntary disclosure of mortgage prepayment penalty fees (moneysense.ca)
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