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Does the loan have a prepayment penalty?

April 26, 2017loan mobile home equity mobile home for sale mobile home payment mobile home rates modular home equity modular home rates penalty prepayment

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Does the loan have a prepayment penalty?

8 Answers

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Alicia Sanders Posted

For most of the part it will depend on the lending company. Most likely you will have to pay off the interest rate, otherwise why would they lend you money and get nothing inreturn. Seems reasonable as for me. But make sure to read th agreement very attentivly to know what you can count on in different cases.

Alicia from: one hour loans

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If you think you may refinance or pay off the loan early, you should ask if there s a fee involved for doing so.

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If you think you may refinance or pay off the loan early, you should ask if there’s a fee involved for doing so.

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If you think you may refinance or pay off the loan early, you should ask if theres a fee involved for doing so.

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Most of our loans do not involve prepayment penalties. Depending on the program you choose and are eligible for, a prepayment penalty may be required. However, for a nominal fee, you may have the option to reduce the number of years for your prepayment penalty. These options can be discussed during your application process.