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What are Prepayment Penalties for an adjustable rate mortgage?

April 26, 2017adjustable rate mortgage penalties prepayment

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What are Prepayment Penalties for an adjustable rate mortgage?

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Some lenders may require you to pay special fees or penalties if you pay off the ARM early. This prepayment penalty will depend on the terms of your specific mortgage. Don’t hesitate to ask your mortgage specialist at Coastal La Jolla Funding whether a prepayment penalty will be accessed in your case.