Most lenders offer home loans even if the seller hasn't finished paying theirs. They used to charge a prepayment penalty of 2-4% of the loan amount if the principal was repaid early, but most have now done away with this.
The home you want to buy already has a loan on it. What should you do?
livemint.com - 17 Dec 2024 15:05
Most lenders offer home loans even if the seller hasn't finished paying theirs. They used to charge a prepayment penalty of 2-4% of the loan amount if the principal was repaid early, but most have now done away with this.
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