Sentences with phrase «refinanced at penalty»

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Roberts, the Toronto mortgage broker, is advising all of her existing clients that if they are currently locked in mortgages at rates of 3.59 % or higher, they need to consider breaking their contracts and refinancing, depending on the penalties and time to maturity.

Some loans don't allow you to refinance for at least a year, and charge penalties if you attempt to do so.

It is also important for borrowers to look at the fees charged for refinance applications, loan funding, origination, or prepayment penalties, as these can add a significant cost to the loan.

You can refinance a mortgage at any point during the term, however one advantage of doing it a maturity is saving an interest penalty.

As a VA - backed homeowner, you can sell your home or refinance your VA loan at any time without having to pay a prepayment penalty or early - exit fee.

Statistics tell us Canadians move or refinance their mortgages ever 3 years... For those of us in Fixed rate mortgages, we are going to face huge penalties at some point down the road... and the Banks know this...

H.R. 3346 — Student Opportunity Act [Rep. Al Lawson (D - FL)-RSB- would eliminate the tax penalty for loan balance forgiveness, allow borrowers with high federal student loan debt to refinance their loans at lower rates, and eliminate loan origination fees.

Refinancing on an open mortgage or a mortgage at maturtity will have minimal penalty costs from the existing lender — which is a main reason why most people do not break their existing mortgages.

Is there a prepayment penalty if you decide to refinance at some point?

At an International Housing Forum sponsored by the Alliance last year, a panel of experts agreed that the U.S. housing finance system is unique with its fixed - rate mortgage and the ability for consumers to refinance mortgage loans without significant prepayment penalties or administrative costs.

With respect to a consumer credit transaction, if any scheduled payment is more than one and one - half times as large as the average of earlier scheduled payments, the debtor has the right to refinance the amount of that payment at the time it is due without penalty.

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Similar to a traditional mortgage, the borrowers retain title to the property and can sell, refinance, or pay off the loan at any time without a prepayment penalty.

Similar to a traditional mortgage, the borrowers retain title to the property and can sell, refinance, or pay off the loan at any time without a prepayment penalty.