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Updated 7 months ago on . Most recent reply

Alexander Robert Wondoloski's profile image
Alexander Robert Wondoloski's profile image
Alexander Robert Wondoloski
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Alexander Robert Wondoloski's profile image
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Alexander Robert Wondoloski
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Alexander Robert Wondoloski
6
Votes |
9
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Private Lending & Conventional Mortgage Advice

Early prepayment loan

Alexander Robert Wondoloski
Posted

Hey BP!
I have a question for my lenders out there. I have a friend that I just taught amortization to as he is trying to quickly pay off his mother's FHA loan to remove a co-signer, then cash out refi (yes, I explained interest rates right now). How would I find prepayment penalties on the contract and run the numbers?
Thank you!!!

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Melvin List's profile image
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Melvin List
  • Lender
  • from Tampa, FL
  • Member since Apr 7, 2016
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Melvin List's profile image
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Melvin List
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  • from Tampa, FL
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Melvin List
  • Lender
  • Tampa, FL
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Melvin List
  • Lender
  • Tampa, FL
Replied

An FHA mortgage will not have a pre payment penalty.

  • Melvin List
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