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Sep 28, 2017 - 34 minute read

Quick cash loans houston

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Quick cash loans houston

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Quick cash loans houston

What is a prepayment penalty. A prepayment penalty is a clause in a mortgage agreement that states that, if the mortgage is paid off early, a penalty fee will be imposed. If you refinance too early that can even qualify for a penalty. It might seem weird that repaying the loan early is penalized, but it is set up that way to ensure profits--the interest on the loan is the profit--and the longer you are paying interest, the more money the bank makes.

They want protection against losing those profits, and thats why prepayment penalties can be included in quick cash loans houston contracts. What is a business loan. A business loan one that can be used to fund start-ups, pay for expansions, pay staff, or even quick cash loans houston business-related equipment, like computers.

The borrower repays the loan under the normal terms of the agreement. Many business loans require a guarantor, someone who signs off, to guarantee the loans repayment.

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