There are a couple of things that could be resulting in the exit fee
If the loan is on a fixed rate there will be a fixed
rate break fee which the lenders use to recover the money they would
lose by the fixed rate contract not being fulfilled. depending on the rate and term that could add up to quite a bit.
Other than that the only fee that should apply is a $250 exit fee that wouldn't be much compared with the potential savings with a cheaper loan rate.
If there's another fee Mozo would love to know about it!!
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