Why You'll Regret Paying Off Your House Early

Paying off your house early could trigger a “mortgage prepayment penalty,” costing you thousands, if not tens of thousands, of dollars by surprise. This prepayment penalty is a LOT more common than most homeowners think, and you may be sitting on one without even knowing it. In short, once this penalty is triggered, you’ll owe a fixed amount or a percentage of your loan balance just to pay off your property. So, how do you know if your mortgage has a prepayment penalty? Tune in and find out!

Christian Bachelder and David Greene have seen this type of sneaky penalty clause time and time again. The bad news? Not every loan officer or lender will outright tell you it’s in your mortgage. You’ll be left with a BIG bill the day you decide to pay off your mortgage early, which could put you in a VERY tight spot. Thankfully, there are a few rules of thumb to follow when it comes to mortgage prepayment penalties, BUT, if you’re an investor, you could already be stuck with one.

Do you think a mortgage prepayment penalty is worth the risk? Or would you go for a completely different loan to not pay the penalty? Let us know in the comments below!

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Prepayment Penalty: What It Is And How to Avoid It:
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DSCR Loans: How To Use Pro Strategies To Save More And Make More:
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0:00 Is Paying Off Your Mortgage a Mistake?
1:16 Common Prepayment Penalties
4:40 When to AVOID Prepayment
7:42 Don’t Get Stuck on a Refinance
8:14 Connect with Christian!


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