Is there a penalty for paying off my mortgage loan early?

Is there a penalty for paying off my mortgage loan early?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Is it possible to pay off my mortgage loan early?; Is there a penalty for paying off my mortgage loan early? and more...

You'll know if there's a penalty for paying off your mortgage early before you close on your home loan. It'll tell you whether you have a pre-payment penalty or not. For 95 percent of my clients, there are no pre-payment penalties. Most pre-payment penalties now occur for subprime borrowers; borrowers that don't have A-paper credit.