Home > Personal > Personal Lending > Mortgage > Mortgage Resources > Glossary > Prepayment Penalty Prepayment Penalty November 9, 2021 A monetary penalty charged by a lender if all or part of a loan is paid off before it is due.You Might Also Like: All Things CommunityReviewing Random Acts of Kindness 2023 Everyday MoneyWhat are ACH Payments and How Do They Work? Family MattersFun Games to Teach Kids About Money Everyday MoneyWhat is the Difference Between a Credit Card and a Debit Card? Family MattersBudget Friendly Easter Basket Ideas
