Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open.

Are prepayment penalties for mortgages normal?
It's not uncommon to have a small penalty if you pre-pay the mortgage in a short time.  After all, making the loan isn't free for the bank. But as Nathan says, if a bank is planning to try very hard to stop you from giving them money, there is probably a reason. Try to convince your wife: there is nothing inherently wrong with debt.  Like anything, too much can be bad for you, but when debt is deployed wisely -- that is almost always, when it is used to finance a capital asset (an asset that produces value) -- it can be a very good thing.