In general most loans these days do not have a PPP and if so you should in most cases avoid those that do.
Hope this helps.
REALTORÂ® | Mortgage Broker
Austin Real Estate Pros | 360 Lending Group
o 512.669.5599 m 512.633.4157
email@example.com | http://www.AustinListed.com
They will confuse the client in interest or duration and duration of each installment.
EXIT One Realty
Broker Classic Texas Properties
Check the terms of your loan agreement to see if such penalties will apply to you.
GRI, CRS, ABR, CLHMS, e-Pro
The reason for pre-payment penalties is so that the banks can receive a payment for all the lost interest that they would have collected had the loan been paid off through the regular installments.
You can easily pay off your mortgage or reduce the amount owed by making more than the regular payment to lower the principal balance each month. It will cut your overall loan amount and term considerably.
I hope this helps. If you have any questions, let me know I would be happy to talk business with you.
If you are concerned about a loan you already have, it will be spelled out clearly in your promissory note.
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134