Tag Archive: prepayment penalties


Competitors Attack Banks on Mortgage Penalties

If there’s one thing the major banks wish would go away, it’s talk about their fixed-rate mortgage penalties. Competitors constantly use accounts of huge bank penalties to sell against the banks, and the media picks up on it. Expect more of this as mortgage penalties approach record highs. In the last few months, we’ve seen non-bank lenders increasingly market their...

Fair Penalty Lenders: Which Lenders Have the Lowest Mortgage Penalties?

Which lenders have the best (lowest) mortgage prepayment penalties? It’s a question we’re asked continually. So we’ve now created a list of them. If you want to know if your lender will treat you fairly (i.e., charge you a reasonable penalty for breaking your mortgage early), read on. What’s a “fair penalty?” A fair penalty is a mortgage prepayment charge...