Financing in 75227>Question Details

Leonard Bueb…, Other/Just Looking in Dallas, TX

Is Texas a no prepay penalty state when you buy a house?

Asked by Leonard Bueber, Dallas, TX Fri Nov 29, 2013

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Few mortgage loans have a pre pay penalty...... if your being told there is one, shop another lender that wont charge you a penalty for paying off your mortgage early!
0 votes Thank Flag Link Thu Jun 26, 2014
Hello Leonard,

Most loans today do not have a prepayment penalty. It is very rare to have something like that these days. If you have any other questions I am a wholesale mortgage broker in the state of Texas and work with over 15 different top wholesale lenders in the country.

Thank you,

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
0 votes Thank Flag Link Wed Dec 4, 2013
I would suggest talking to your lender, usually there's no prepay penalty, though.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
------------------------------------------------------------------
United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Mon Dec 2, 2013
Most loans are no prepayment penalty, but check with your lender because not all loans have no prepayment penalty

Good Luck

Linda
0 votes Thank Flag Link Sun Dec 1, 2013
That is a lender question and will depend on your credit.
http://Www.tcrdallas.com
0 votes Thank Flag Link Sun Dec 1, 2013
Usually no prepay penalty on your Mortgage loan
0 votes Thank Flag Link Fri Nov 29, 2013
No. But I haven't seen a prepayment penaty in a while.

Check your promissory note if you alreay own.
Check your Truth-in-Lending if you are buying.

Tom Burris
Mortgage Banker
http://www.dallasloanguy.com/
(214) 763-4629 cell/text/nights/weekends(Really!!)
tburris@servicefirstmtg.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
.
9yr Veteran navigating Mortgages for wonderful clients.
0 votes Thank Flag Link Fri Nov 29, 2013
It depends on the terms of your loan.
I think every one I've seen in the past 2-3 years or maybe longer has had a no prepayment penalty clause.

You can always ask the loan officer who does the loan for you or ask to see a copy of their standard loan documents.
0 votes Thank Flag Link Fri Nov 29, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Financing terms are not generally related to which state you reside in.

Many of today's loans are made without a prepayment penalty, but you can check your "Truth in Lending" disclosure to see if one applies to the loan you're applying for.
Web Reference: http://www.Mortgages-TX.com
0 votes Thank Flag Link Fri Nov 29, 2013
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