These says are very different on types of fund it apply this ban so you’re able to
11 claims fundamentally ban prepayment punishment to the residential basic mortgages. They’ve been Alabama, Alaska, Illinois (in case your rate of interest is more than 8%), Iowa, New jersey, The fresh new Mexico, Vermont (less than $100,000), Pennsylvania (less than $50,000), Sc (under $100,000), Texas, and you will Vermont. Specific cover merely solitary-family residential property; others shelter multi-nearest and dearest homes around half a dozen tools.