Tag Archive for: early pay off

What Are Early Pay Off Penalties?

Early Pay Off Penalties (also referred to as EPOs) are often confused with Prepayment Penalties. The EPO meaning in mortgage language relates to fees charged to a lender when a borrower pays off their loan within a certain period after the loan is sold on the secondary market.Read More

Should You Pay Off A Mortgage Or Invest?

The choice between investing or paying off your mortgage can be difficult. Wanting to reach your financial goals but not knowing which is better is a common challenge. Buying a home can be exciting and stressful, especially if you’re planning to use a mortgage to purchase a home. Because of this, many people want to do everything they can to pay off their mortgage early. We’ve outlined some of the benefits and downsides to paying off a mortgage early compared to investing these funds and continuing to pay off your mortgage over time.Read More

Early Payoff Penalties – Six Months Is All We Ask :)

A borrower with substantial funds recently requested an $8,000 lender credit from us to cover his closing costs. In order to give him the large credit, we had to increase […]Read More