When signing up for a loan, you need to be wary of pre-payment penalties from some lenders. By offering a somewhat lower interest rate, borrowers will end up with a mortgage pre-payment penalty. This is a penalty for paying off your loan earlier. Though borrowers might save monthly with a lower rate, pre-payment penalties can end up costing you thousands of dollars. Pre-payment penalties are used to protect loans long enough for lenders to recover some of the costs they gain from the original loan. These penalties also discourage refinancing your loan. Say your rates should decrease, lender...

Welcome to Sandton Partner's brand new website! For questions on our lending criteria, contact us at 508-265-2720.