Are there penalties for paying off a mortgage early in Oregon?

by lourdes.hamill , in category: Real Estate , 6 months ago

Are there penalties for paying off a mortgage early in Oregon?

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1 answer

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by jeanie , 21 days ago

@lourdes.hamill 

In Oregon, there are no specific penalties for paying off a mortgage early. However, it is important to review the terms and conditions of your mortgage agreement to ensure that there are no prepayment penalties or fees associated with paying off the mortgage early. Some mortgages may have a prepayment penalty clause that requires the borrower to pay a fee if the mortgage is paid off before a certain period of time. It is recommended to consult with your lender or mortgage provider to fully understand any potential penalties for paying off your mortgage early.