Sentences with phrase «mortgage repayment penalty»

However, mortgage refinancing may come with closing costs such as mortgage repayment penalty, mortgage discharge fee and legal fees.

Not exact matches

Many mortgage lenders will tack on stiff penalties for early repayment.

Reverse mortgages can be paid back, but there are sometimes repayment penalties that the homeowner should look into before acquiring the mortgage.

Most mortgages come with fees and repayment penalties that can affect how much equity you build — not to mention how much you spend — over the life of your loan, regardless of your mortgage rate and term.

For example, the VA ensure that borrowers do not have to pay any prepayment penalties, whereas the early repayment of the mortgage in full would normally incur penalties of tens of thousands of dollars.

Please note that most open mortgages do have a 3 month penalty for early repayment.

Keep in mind that if you use your RRSP to invest in your own mortgage, your repayments are restricted under the terms of the mortgage, including being liable for early pre-payment penalties.

Also, you may need to pay early repayment penalty if you want to liquidate the Fixed Rate Mortgage before its maturity.

If you have questions concerning your mortgage, including repayment charges and penalties, don't be afraid to ask your broker.

Repayment penalty: A fee charged to the borrower if the mortgage loan is paid off before it's full term.

In fact, VA loans usually carry lower interest rates than conventional mortgages, don't require private mortgage insurance, and don't include early repayment penalties, among their other advantages.