A penalty that a lender may impose on a borrower who pays a loan off before its expected end date.
A fee charged by a lender when the borrower prepays all or a part of a mortgage in excess of the regular payments allowed by the mortgage terms.
Real Estate Glossary : Terms and Definitions
A penalty that a lender may impose on a borrower who pays a loan off before its expected end date.
A fee charged by a lender when the borrower prepays all or a part of a mortgage in excess of the regular payments allowed by the mortgage terms.
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