Glossary

Understanding key terms is essential when navigating complex topics like mortgages, life insurance, and investing. Whether you're buying your first home, planning your financial future, or exploring investment options, our glossary is designed to help you get familiar with important terminology.

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Penalties

Penalties are fees a lender charges when a borrower breaks the terms of their mortgage agreement, such as paying off the mortgage early, refinancing, or switching lenders before the term ends. These fees are typically higher for fixed-rate mortgages than variable-rate ones.

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