Meaning Closed Mortgage
What does Closed Mortgage mean? Here you find 7 meanings of the word Closed Mortgage. You can also add a definition of Closed Mortgage yourself
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Closed MortgageA mortgage that cannot be prepaid until maturity or during a specific period.
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Closed MortgageA mortgage loan that has a locked-in payment schedule, which does not vary over the life of the closed term. A buyer who uses a closed mortgage will likely have to pay the lender a penalty if you fully repay the loan before the end of the closed term.
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Closed MortgageA mortgage agreement which does not provide for prepayment prior to maturity. A lender may permit prepayment under certain circumstances but will levy a prepayment charge for doing so.
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Closed MortgageA mortgage which cannot be prepaid, renegotiated or refinanced prior to the expiry of the term, except with compensation or breakage costs.
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Closed MortgageA mortgage agreement that cannot be prepaid, renegotiated or refinanced before maturity, except according to its terms.
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Closed MortgageA closed mortgage is one that cannot be prepaid, renegotiated or refinanced before the end of the term without paying a prepayment charge.
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Closed MortgageA mortgage agreement that cannot be prepaid, renegotiated or refinanced before maturity, except according to its terms.
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