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Prepayment Penalties
for Owner Occupied Loans
Are Pre-Payment Penalties Allowed?
(We made things simple for you)
Owner Occupied Business Purpose Loan: Yes,
Prepayment Penalties are allowed.
Owner Occupied Bridge or Temporary Loan (12 months): No,
Prepayment Penalties are not allowed.
Owner Occupied Consumer Purpose (15 Year Loan) : No,
(3 years interest only /12 years amortized)
Prepayment Penalties are not allowed.
Non-Owner Occupied Residences, Land & Commercial Properties: Yes,
Prepayment Penalties are allowed.
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