Are there any foreclosure and part-prepayment charges?

Yes, many financial institutions impose foreclosure and part-prepayment charges. These charges can include:

• Foreclosure Fees: A penalty for paying off the loan early, typically 1-3% of the outstanding amount.
• Part-prepayment Charges: Fees for making partial payments, often around 2-5% of the prepaid amount.

It's crucial to review the terms and conditions with your financial institution before proceeding to avoid unexpected costs.