Hi,
I'm planing to sell my house and pay off the mortgage. Housei s worth 400k, mortgage is 200k. I'm on a variable rate. If I sell and get the value above, will I stand to clear 200K (approx. after fees, etc) given that it is my primary residence or do the bank have penalties for clearing early? Mortgage has another 20 years left on it. Thanks.
I'm planing to sell my house and pay off the mortgage. Housei s worth 400k, mortgage is 200k. I'm on a variable rate. If I sell and get the value above, will I stand to clear 200K (approx. after fees, etc) given that it is my primary residence or do the bank have penalties for clearing early? Mortgage has another 20 years left on it. Thanks.