A mortgage prepayment penalty is a fee for paying off your home loan early, usually within a few years of taking it out. It doesn't apply to USDA, VA, or single-family FHA mortgages. There are soft and hard prepayment penalties, with varying amounts or fixed fees. To avoid them, choose a mortgage without penalties, negotiate with your lender, wait out the penalty period, or make gradual extra...
Home Loan
The answer: It depends. Mortgage interest is only deductible when the loan — even if it’s a second mortgage — is used to buy, build or substantially improve your home. So if you used your HELOC or ... Continue to full article...