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What is prepayment?

Prepayment is when your mortgage is paid in full before the due date. If you’ve been thinking of refinancing your mortgage, it’s important to see if any prepayment penalties exist on your current mortgage.

If you do have a prepayment penalty in your current mortgage, that doesn’t necessarily mean refinancing is the wrong choice for you. Depending on the type of loan you may qualify for, your credit score, or current interest rates, you may still be able to lower your monthly payment—even with the prepayment penalty factored in.

If you’ve been thinking about refinancing, give us a call today. We can evaluate your current situation and help you make the decision that makes the most sense for you.

 

 

 

About

Weichert Financial Services Established in 1980 in Chatham, New Jersey to offer real estate-related financial assistance to the customers of Weichert, Realtors, Weichert Financial Services has grown by leaps and bounds. Currently serving home buyers and sellers in 36 states, Weichert Financial Services leads the way in full service under one roof, supplying mortgage loans and encompassing both Weichert Insurance Agency and several title insurance companies. By seeking out and contracting with ...

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225 Littleton Road
Morris Plains, New Jersey 07950
Phone: (800) 829-2274
Email: wfs@weichertfinancial.com

 

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