Mortgage Prepayment Penalties| What Banks Don’t Tell You

Brighton January 8, 2023

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Mortgage prepayment penalties are charged by lenders if you break the mortgage term early or pay out a mortgage before the term. In this video, I explain how to calculate your mortgage penalty cost for both a variable and fixed close-rate mortgage while sharing tips on which to select to save on penalty costs.

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Categories: Blogs, Real Estate & Credit

Brighton

Brighton is a licensed mortgage broker who serves clients in British Columbia. He is also the author of "Master Your Mortgage: What the Bank Won't Tell You About Buying the Right Home." With over a decade of financial and real estate experience, Brighton has worked for some of Canada's largest banks, including Scotiabank and CIBC.

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Mortgage Prepayment Penalties| What Banks Don’t Tell You

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