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  • noun

Words related to prepayment

payment in advance

References in periodicals archive ?
These authors also find that a mortgage with a prepayment penalty that lasts more than three years is 20 percent more likely to end up in foreclosure than a mortgage without a prepayment penalty.
If someone has good credit, [they] may be offered a much lower interest rate in exchange for the prepayment penalty.
Many lenders do not have the time to maintain the prepayment penalty guidelines and requirements from individual investors, state governments and the federal government," said Monte Larsen, Chief Marketing Officer at DocuTech.
Does something magically happen to the real estate market on the first, second or third anniversary of the loan closing, that should make the prepayment penalty drop by a whole point?
And that's not a major sacrifice these days: the interest rate and terms available in today's market are often so much better then when the existing loan was made, that the "payback" period for the prepayment penalty is often less then two years.
The loan was structured as a fixed rate forward commitment both to mitigate an onerous prepayment penalty with the former lender while locking in a favorable fourteen year fixed rate term.
The loan was structured as a fixed rate forward commitment, both to mitigate an onerous prepayment penalty with the former lender and to lock in a favorable 14-year fixed rate term.
The interest rate was fixed for a seven year term with a local savings bank with a prepayment penalty of 5% year one, 4% year two, 3% year three, 2% year four and 1% in years five, six and seven.
4 million prepayment penalty in connection with the repayment of its outstanding borrowing obligations with the net proceeds from its initial public offering.
This 10 year fixed rate loan is non-recourse, assumable with a 1% transfer fee and incorporates a defeasance formula prepayment penalty.
We also arranged for the borrower to receive an unusually favorable prepayment penalty - only one percent if paid during the term of the loan, or half a percent if the property is sold.
Although the loans are subject to frequent adjustment, there is no prepayment penalty for borrowers who wish to switch to a fixed-rate loan.