Is there a prepayment penalty on an ARM – Adjustable Rate Mortgage in California?
I know that there is no prepayment penalty on fixed rate Mortgages in California. I’m looking to pay off my mortgage in the next 2 years and the rates on the 3/1 ARMs look good. However, a prepayment penalty may invalidate the savings.
You are incorrect.
Whether there is a prepayment penalty depends on your specific loan. It has nothing to do with the state you are in or the type of loan you have, at least not in California.
Adjustable Rate Mortgage Borrowers
|
|
Dual index mortgages (DIMs): Conditions of sustainable development in Poland … |
|
|
The relative termination probabilities of adjustable-rate mortgages (Research paper) … |
|
|
Solving the adjustable rate mortgage puzzle: How you can save $1,000’s in mortgage billing errors … |
