Based on Your Previous Answers, We Have a Few Last Questions
These additional details allow our attorneys to gain a deeper understanding of the specifics of your case
×
Were you able to find answers to your questions?
Get a free consultation with a highly rated lawyer
Get a free consultation
Prepayment Penalty Definition
A fee imposed on a borrower who pays off a loan (usually a mortgage) before its due date. Lenders impose this kind of fee to encourage borrowers to hold a debt -- and keep paying interest on it -- for the whole term of the loan.