A fee imposed on a borrower who pays off a loan (usually a mortgage) before its due date. Lenders impose this kind of fee to encourage borrowers to hold a debt -- and keep paying interest on it -- for the whole term of the loan. Found on http://www.nolo.com/dictionary/prepayment-penalty-term.html
A charge imposed by a mortgage lender on a borrower who wants to pay off part or all of a mortgage loan in advance of schedule. Found on https://www.encyclo.co.uk/local/21405
a fee charged to a homeowner who pays one or more monthly payments before the due date. It can also apply to principal reduction payments. Found on https://www.encyclo.co.uk/local/21674