Are there penalties for paying off a mortgage early in Oregon?
Are there penalties for paying off a mortgage early in Oregon?
2 answers
@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.
@lourdes.hamill
It is always advisable to carefully review your mortgage agreement and consult with your lender before paying off your mortgage early to avoid any potential penalties or fees. Each mortgage agreement may have different terms, so it is important to clarify any uncertainties with your lender.