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When Is Prepayment Charges Greet in The fresh Mortgages? Date Limitation to have https://paydayloanalabama.com/addison/ Prepayment Punishment-3 years A good prepayment punishment is greet when you look at the basic 36 months following the loan try consummated. Shortly after three years, an excellent prepayment penalty isn’t acceptance. (12 C.F.R. (g) (2024).) Financing try “consummated” in the event that debtor becomes contractually compelled with the financing.