Things to consider when choosing a mortgage

15 April 2020
RLP Meadowtowne
Things to consider when choosing a mortgage

When you buy a home, you might want to consider choosing a mortgage that includes flexible prepayment privileges. Prepayment privileges allow you to increase your regular mortgage payments without having to pay extra fees. Prepayment privileges are sometimes included in the agreements for closed mortgages. If your lender is a federally regulated financial institution, such as a bank, it must indicate the prepayment privileges in an information box at the top of your mortgage agreement.