Mortgage fees: Prepayment penalties
A prepayment penalty is a fee that your mortgage lender may charge if you: pay more than the allowed additional amount toward your mortgage. Break your mortgage contract.Transfer your mortgage to another lender before the end of your term. Pay back your entire mortgage before the end of your term, including when you sell your home
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Original Article Source Credits: Government of canada, https://www.canada.ca
Article Written By: NA
Original Article Posted on: 2020-09-16
Link to Original Article: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reduce-prepayment-penalties.html