Posted by Bill on March 03, 2000 at 06:35:34:
Not sure if it is Federal Law,but pre-payment penalties with banks/savgs and loans are illegal. You may want to talk with your local bar association…most have leads to lawyers who will give you freebie tips on questions like this.
Wrapping into one loan makes sense and should be possible at a much lower rate. In chicago area,it’s possible to get investor loans around 8-7/8% to 9%.