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Are Prepayment Penalties Allowed on DSCR Loans in Kentucky?
#1 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
Prepayment Penalty Rules for DSCR Loans in Kentucky
Prepayment Penalties are Fully Allowed with no restrictions for DSCR Loans in Kentucky. Kentucky law does not impose statutory restrictions on prepayment penalties for business-purpose loans such as DSCR loans. The Kentucky Revised Statutes focus primarily on consumer protection for personal-use credit, and do not address investment-purpose mortgages. As such, DSCR Lenders can typically offer all standard prepayment penalty options such as Descending Prepay Penalties (i.e. “3/2/1”), Flat Prepay (i.e. 5/5/5/5/5) or other tailored structures in the Bluegrass State.
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