EXISTING MORTGAGE - lower pre-payment penalties

Mortgage details, get it in writing.

When you sell a property, check your mortgage details! Your Realtor can provide you with the necessary form. If you are not represented by a Realtor, here is our standard Mortgage Verification form , print as many copies as you want, free, no obligation. Take it to the bank and ask your mortgage officer to fill it out for you.

To determine the net proceeds from the sale of your property you need to know the outstanding principal balance of your existing mortgage and a variety of mortgage payout details including any prepayment penalties. Prepayment penalties are often negotiable. Is your bank willing to lower their penalties if you finance your next home with them? How about if your buyer agrees to arrange their new mortgage with your bank? Verify what your bank will do for you!

Ask Questions! Get Answers!

As a Seller, NET PROCEEDS is your most important dollar figure!