Let's talk about Mortgage Prepayment Penalties

Life happens, and people need to break their mortgage contract for various reasons. Paying a slightly higher monthly payment can mean insurance against a sky-high penalty.

Know Your Lender – Know how their pre-payment penalty is calculated prior to accepting that "lower" interest rate.  The lower rate might save a few hundred dollars, but could result in tens of thousands in a payout penalty if you ever wanted to switch to a lower rate in the future.

Please reach out to me with any questions.