What is a payoff amount and is it the same as my current balance?
Your payoff amount is how much you will have to pay to satisfy the terms of your mortgage loan and completely pay off your debt. Your payoff amount is different from your current balance. Your current balance might not reflect ...
Can I be charged a penalty for paying off my mortgage early?
Whether you can be charged a penalty for paying off your mortgage early depends on what type of mortgage you have and the specific terms of your mortgage loan. Some loans have pre-payment penalties during the first years of the ...
What is a balloon payment? When is one allowed?
A balloon payment on a mortgage is a large, one-time payment at the end of the loan term. If you have a mortgage with a balloon payment, your payments may be lower in the years before the balloon payment is ...
