Depending on your situation loan to value etc you could be eligible for these rates and they are non restrictive productsasgr815 wrote: ↑ So i keep reading 2.84 / 2.89 from similar lenders on this thread, can anyone tell me what are the conditions and prepayment options and penalties associated with these products ?
I heard that penalties etc are severe in some cases as much as 3% of remaining balance if you decide to sell.
Can someone give a rough idea of terms and differences between different options.
normal penalties - 3 months or the interest rate differential (greater of) if you were to break early
There are some products that have set penalties 2.75% of balance or a bona fide sales clause none of which apply to these rates
Hope this helps
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