Friday, September 10, 2010

Is Prepayment Penalty on Mortgages in NJ allowed ?

Hi I hope someone can answer this for me. Im finding conflicting answers try to figure this out myself.

I am about to get a mortage for a condo in New Jersey.

I will be putting down pretty good down payment but still will have mortage of 300k.

I plan to pay it off within 2-3 years.

Does NJ limit the amount I will be charged for paying it off early ?



Thanks !