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: Living QuartersSpring Maintenance Checklist for Your Home All Things CommunityHoli-days of Giving 2022 Everyday MoneyGiving Back During the Holiday Season Living QuartersYour Top Mortgage Questions Answered Living QuartersHow to Understand Mortgage Language
