Prepayment Penalty

Prepayment Penalty Pitfalls: What Lenders Don’t Want You To Know

Paying off your mortgage early can save you money, but watch out for prepayment penalties. These hidden fees are often in loan agreements. We’ll cover what you need to know about them. This way, you can make smart choices about your mortgage and avoid surprises. Key Takeaways Prepayment penalties are fees that lenders may charge…

Loan Term

What Is A Loan Term?

Loan term shows how long you have to repay a loan. This affects your monthly payment amount and total interest paid. The term “loan terms” covers the length you have to pay back, the interest rate, and the fees. It’s key for people getting a loan to understand these terms. They help you see what…