My little rant on equity loans
Legitimate home mortgages never have yield spread premiums. If you see one on a home mortgage you are offered, not only does it mean the mortgage is bad, it also means you could get a much better interest rate elsewhere. * Prepayment penalties. This is a charge for refinancing or paying off the mortgage early. Good mortgages rarely have any prepayment penalty, and when they do have a penalty, the term during which the penalty applies is short.