Some lenders, including U.S. Bank, Citizens Bank and Chase, do not charge
early payoff fees.
In those cases,
early payoff fees range from the total of the closing costs up to closing costs plus a few hundred dollars.
Some less obvious fees to ask about are maintenance fees and
early payoff fees.
While prepayment fees are meant to prevent you from paying off additional principal,
an early payoff fee is a fee paid to the originating lender for loans that have only been on the books a few months.
An early payoff fee is not to be confused with a prepayment penalty.
You may be able to work with the original lender, however, to avoid being charged as they can typically absorb
any early payoff fee.
Some fees, though, like
the early payoff fee, you will be responsible for.
If you plan to make larger payments than what is required of you to pay off your loan more quickly, make sure you choose a company that does not charge
an early payoff fee.
Not exact matches
You'll end up with an
early -
payoff penalty on your first loan plus
fees associated with your refinance.
As his predecessor as chairman of the BBC Trust admitted controversial
payoffs to senior executives were «eye - watering», Lord Patten confessed he had failed to protect the interests of the licence -
fee payer by clamping down on the issue
earlier.»
Prepayment Penalty A prepayment penalty is a
fee charged for
early payoff of a loan.
Those might include
fees related to the repossession and
early termination of your lease or
early payoff of your financing.
An
early loan
payoff is actually good news at Prosper because service
fees will have not had much time to accumulate.