Announcement 2025 - 25

Prepayment Penalty - Plus Program Loans in New Jersey

Effective July 17, 2025, MK Lending will not allow prepayment penalty for all PLUS Program mortgage loans originated in New Jersey unless the borrower is a C-Corporation or S-Corporation.

New Jersey loans with a prepayment penalty locked before July 17th, 2025, will be honored at current pricing, including the prepayment penalty adjustment. However, MK Lending will not accept re-locks on this population.

Please reach out to your Account Executive regarding any questions.