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Break Fee Myths: What the Banks Don’t Tell You⎥Ep. 2245
Episode 2245
Published 4 months, 1 week ago
Description
Interest rates are falling ... but does that mean you should break your fixed-term mortgage early?
In this episode, Ed and Andrew unpack when it’s smart to pay the break fee … and when it’s just an expensive mistake.
You’ll learn:
- What break fees actually are (and how one investor paid a $20,000 penalty)
- How banks calculate these costs
- When breaking your loan makes sense
Ed and Andrew break down real-life examples, including a $150k break fee on a $5 million loan, and share a simple framework to decide if switching to a lower rate will actually save you money.
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