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It would depend on whether the savings gained by "retiring" the loan outweighed the disadvantages posed by the pre-payment penalty. Most loans have pre-payment penalties which expire after a short period of time. On mortgage loans, the typical pre-payment penalty runs 1, 3, or 5 years.
First answer by ID1129228370. Last edit by ID1129228370. Question popularity: 113 [recommend question]
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Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Loans > If a loan has a prepayment penalty attatched to it would it still be viable to retire it?
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Will a company refinancing your mortgage pay for a prepayment penalty?
