W
WebBoard
Guest
From: Vicki .
Hi
I am almost 2 years into a 3yr fixed IO loan and am selling my IP (in partnership with another). My mortgage broker has informed me that break costs on the $230K loan @ 7.6% will be $9,600. Eeekkkk.
I understand why there are break costs but is this amount "normal" for 14mths early exit? Or have I signed up on a dud deal. I have been happy with the broker and intended using them again but didn't want to be taken for a ride again if this was the case here.
Any clues?
Vicki
Hi
I am almost 2 years into a 3yr fixed IO loan and am selling my IP (in partnership with another). My mortgage broker has informed me that break costs on the $230K loan @ 7.6% will be $9,600. Eeekkkk.
I understand why there are break costs but is this amount "normal" for 14mths early exit? Or have I signed up on a dud deal. I have been happy with the broker and intended using them again but didn't want to be taken for a ride again if this was the case here.
Any clues?
Vicki
Last edited by a moderator: