The Mortgage Clause That Could Cost You Thousands Real Estate Explained #347

The Mortgage Clause That Could Cost You Thousands Real Estate Explained #347. [MORTGAGE] High Desert Real Estate Agent [Home Loan] and how to qualify!

The Mortgage Clause That Could Cost You Thousands Real Estate Explained #347 video duration 2 Minute(s) 20 Second(s), published by J. Lucky Henry on 12 06 2019 - 11:30:02.

Why is paying off your home loan early a bad thing? J
Lucky Henry unpacks why pre-payment comes at a cost in today's Real Estate Explained video Today CEO of The Loan Room Martin Bennett explains refinancing your mortgage in Australia
If you constantly chase rates you'll usually end up disappointed .

Mortgage! Home Loans! Learn the "Home Loan Process" Mortgage loan! How to qualify for a mortgage loan & get an easy home loan approval! Simple When we hear mortgage rates are going up or down, a lot of us may wonder if we should refinance our mortgage
Sometimes it makes sense, sometimes it Mortgage! Home Loans! Learn the "Home Loan Process! Mortgage loan! How to qualify for a mortgage loan & get an easy home loan approval! Simple .

Why is paying off your home loan early a bad thing?

J. Lucky Henry unpacks why pre-payment comes at a cost in today's Real Estate Explained video.

Unlike cell phones or car notes, paying off your home loan early can actually come with a penalty. And what's more is that this warning is sometimes found right in the loan documents.

The pre-payment penalty clause states that lenders can charge borrowers a penalty for paying off the loan early.

Why would lenders do this?

Lenders make money off the interest on the loan. The longer the repayment term goes, the longer they stand to make money. So when a borrower pays the loan off early, the banks can no longer collect that money. To offset this \