The Hidden Cost of Breaking Your Mortgage

You found a better rate. Maybe you’re moving or consolidating debt. On the surface, breaking your mortgage might look like a smart move. But before you pull the trigger, take a closer look at the penalty. In many cases, it can eat up most of the savings or potentially worse.

This guide explains how prepayment penalties work, why they differ between lenders, and how to know whether refinancing early is actually worth it.

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