I would prefer not to cancel this closing as it’s at a good rate.
However, if this refi causes me to be liable for a penalty on my current loan then I will cancel this refi.
I pored over the closing documents of my current loan and could not find a similar
However, when I emailed the broker of my current loan to check if there is such a penalty, he said yes there was a penalty for prepayments within the first 6 months or 6 payments. But the guy I talked to doesn’t know where in the fine print of the closing docs this is written.
Is this kind of sneaky prepayment penalty typical, then? If so, where is it written? On the Note? Or on a separate doc, like with my pending refi?
