The loan has a flexible 9 year term which gives the new owner's the ability to make needed upgrades and improvements to the property with a liberal prepayment privilege
The non-recourse financing was done at par and has a prepayment privilege
on a declining scale.
Prepayment penalty: A consideration paid to the mortgagee for the prepayment privilege
The New York based lender did not charge a fee, and the loan, as well as having a flexible, sliding-scale prepayment privilege
, also allows for a five-year option at 2.
All RBC mortgages come with amortisations of up to 30 years and full prepayment privileges
Once Austin's water use grows by a certain amount, prepayment privileges
will expire and Austin will need to start paying the LCRA, which manages water in the Highland Lakes, a fair amount for the water.
If necessary the price can include terms such as installment payments, interest rate, security, prepayment privileges
, and the like.