penalties for early payoff?

Profile picture for largeolive
If i purchase a foreclosed home for 25,000 and secure the best 30 year conventional loan i can find with 20% down what kind of penalties should i expect if i decided to pay the balance of in 1 or 2 years?
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July 09 2011 - Babbitt
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Profile picture for wetdawgs
What does your contract say?   Some mortgage have early pay off penalties and some don't.
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July 09 2011
Profile picture for largeolive
I haven't purchased it yet   but was curious just roughly what they might be?
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July 09 2011
Profile picture for wetdawgs
Get a  mortgage without an early pay off penalty and there will be no problem.

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July 09 2011
Profile picture for RosevilleMNREstate
They are hardly around anymore. Like Wetdawg said just don't get one with a early penalty and you will be ok.
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July 11 2011
 
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Discussionpenalties for early payoff?
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