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5/1 loan details

what are the penalities for repaying a 5/1 loan before 5 years
By bjydog374 from CA Jul 7th 2014

You would need to read your Mortgage and/or Note from your original loan closing as it will tell you exactly what (if any) you have for prepayment penalties. If you don't have the documents, try to find out where you closed and the Title Agent or Attorney should be able to get you what you need as the documents should be scanned and filed away!

Jul 7th 2014

I agree with the reply from Creative Options Financial

Jul 7th 2014

It depends if you have a prepayment penalty. Many loans now days do not come with a prepayment penalty. However, you can find this information out by looking at your original loan documents.

Jul 8th 2014

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