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A comment on Calling All Hackers: How money works (2024). Parent comment

Re:Calling All Hackers: How money works (2024) by jjav on Wednesday January 07, 2026 @08:14AM (#46526018)
> mortgages which often come with an agreement that you won't pay it back within a number of years

Not "often". Prepayment penalty mortgages can exist but I've never seen or talked to anyone who has seen one in practice.

Some web searching suggests that only about 2% of home mortgages have prepayment penalty clauses.

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Re:Calling All Hackers: How money works (2024) by apercu on Wednesday January 07, 2026 @08:17AM (#46526051)
In Canada (on many mortgages) you are only allowed to prepay a percentage per year, if you pay off your mortgage in a shorter window the financer claws back interest they would have made within that term.
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Re:Calling All Hackers: How money works (2024) by globular-toast on Wednesday January 07, 2026 @08:41AM (#46526268)
It's standard in the UK and probably other parts of the world.
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Re:Calling All Hackers: How money works (2024) by ipsento606 on Wednesday January 07, 2026 @09:10AM (#46526529)
> Some web searching suggests that only about 2% of home mortgages have prepayment penalty clauses.

It's clear (to me) that you're talking about the US specifically, but it might not be clear to everyone.

Residential mortgages are highly idiosyncratic to the country you're talking about. Try getting a 30 year fixed rate mortgage in the UK.

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Re:Calling All Hackers: How money works (2024) by ratelimitsteve on Wednesday January 07, 2026 @11:27AM (#46528340)
is there somewhere where a majority or a plurality of mortgages come with a prepayment penalty?
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Re:Calling All Hackers: How money works (2024) by globular-toast on Thursday January 08, 2026 @09:56AM (#46541760)
The UK.
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