Bob Ramalho

Berkshire Hathaway - Verani Realty

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Bob Ramalho January 26, 2021

Understanding The Role Of A Mortgage Prepayment Penalty Fee

When people take out a home loan, it is important to think carefully about how the home loan works. At first, the majority of the monthly payment is going to go towards interest. For example, it is not unusual for 90 percent of the monthly mortgage payments go toward interest during the first year. Then, during the latter part of the loan, most of the payment is going to go towards paying off the principal. Therefore, it should come as no surprise that a lot of homeowners are looking for ways to … [Read more...]

Filed Under: Real Estate Tagged With: Mortgage Fees, Mortgage Prepayments, Real Estate

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