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Are Prepayment Penalties Allowed on DSCR Loans in Georgia?
#1 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
🤔🤔🤔 Are Prepayment Penalties Allowed on DSCR Loans in Georgia?
☑️ 🍑 🏠 Yes, Prepayment Penalties are Fully Allowed with no restrictions for DSCR Loans in Georgia. Georgia law restricts prepayment penalties only for consumer-purpose residential mortgage loans. Under O.C.G.A. § 7-6A-5, limitations apply only to “home loans” defined for personal, family, or household purposes. Since DSCR Loans are business-purpose in nature, these restrictions do not apply. As such, DSCR Lenders can typically offer all standard prepayment penalty options such as Descending Prepay Penalties (i.e. “5/4/3/2/1”), Flat Prepay (i.e. 5/5/5) or other tailored structures in the Peach State.
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