A clause that stipulates the amount of principal a borrower may prepay ahead of schedule without penalty as well as the prepayment penalty for larger prepayments.
The clause in a mortgage or note allowing a borrower to pay off the loan prior to the date of maturity.
A provision in a promissory note stating the amount a borrower may repay ahead of schedule without incurring a penalty.
A clause in a mortgage giving the mortgagor the privilege of paying off the mortgage before its due date.
A clause (contained in most mortgages) in which the mortgagor has the privilege of paying all or part of the mortgage debt in advance of the mortgage maturity date. The prepayment amount can be as high as 20% annually of the original mortgage amount. Check with your mortgage company
A provision in a note or deed of trust allowing the borrower to pay off all or part of the principal before it is due, with or without a prepayment penalty.
A clause inserted in a mortgage which gives the mortgagor the privilege of paying off all or part of the mortgage debt ahead of the maturity date.
A clause in a mortgage agreement that lets you pay off all or part of the mortgage before the maturity date. Rate Commitment: How long a lender is willing to offer you the prevailing interest rate. Can vary from 30 to 180 days.
A clause in a mortgage, charging a penalty to the borrower if the loan is paid off before the due date.
A provision in a loan agreement permitting the debtor, for consideration, to pay part or all of the balance of the debt before its due date, thus saving interest.
Clause that provides for a penalty to be levied against a borrower who repays a loan before the specified due date.
In a mortgage, an agreement giving the Borrower the privilege of paying additional sums off the principal balance over and above the agreed contractual payments.
A clause in a mortgage agreement that allows you to pay off all or a percentage of the mortgage before the maturity date.
A clause that confirms the amount of the principal balance of an account the borrower may pay earlier than expected with or without penalty. The terms acceptable to British Mortgages Abroad vary according to the product selected.
A clause in a mortgage that gives a mortgagor (borrower) the privilege of paying the mortgage indebtedness before it becomes due. Sometimes there is a penalty for prepayment, with waiver of the interest that is not yet due.
in a Mortgage Statement of the terms upon which the mortgagor (borrower) may pay the entire or stated amount on the mortgage principal at some time prior to the due date.
A clause inserted in a mortgage, which gives the mortgagor the privilege of paying the mortgage debt in advance of the maturity date, on stipulated terms.
A provision in a mortgage that allows the mortgagor to pay the mortgage debt ahead of schedule without penalty
A clause inserted in a mortgage that gives the mortgagor the privilege of paying all or part of the mortgage debt in advance of the maturity date.