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💸When you break a mortgage contract early, you usually have to pay a 'mortgage penalty' to the lender. This fee compensates the lender for the interest payments they lose out on.
💡 It's like a break-up fee for your home loan! 💔🏡
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Diving into mortgage terms: it's the agreed-upon duration where your interest rate and payment schedule stay fixed.
Remember, it's not the same as the mortgage amortization period! 🏠💼
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💸When you break a mortgage contract early, you usually have to pay a 'mortgage penalty' to the lender. This fee compensates the lender for the interest payments they lose out on.
💡 It's like a break-up fee for your home loan! 💔🏡
#Mortgage101 #HomeLoans #FinancialTips
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This MOU between NCBA Bank and Fanaka Real Estate provides an easier, more efficient way to own land and build your dream home. Will you explore this option? #RealEstate #HomeLoans #DreamHome
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