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HB2497: Prohibiting the assessment of a prepayment penalty against any party more than six months after the execution of a note evidencing a home loan made primarily for personal, family or household purposes secured by a real estate mortgage.
Passed BothHouse
Introduced
In Committee
Passed Chamber
Passed Both
Signed
Plain-Language Summary
This bill aims to prevent lenders from charging prepayment penalties on home loans more than six months after the loan was taken out. This means homeowners who want to refinance or sell their homes within a certain timeframe won't be hit with extra fees.
Who This Affects
Homeowners in Kansas who take out primary residence mortgages and want to make changes to their loan terms within six months will benefit from this bill. This could include people looking to refinance for better interest rates or sell their home quickly.
Key Provisions
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Timeline
Introduced
Tuesday, January 20, 2026
Last Action
House Approved by Governor on Thursday, April 9, 2026
Apr 8, 2026
Sponsors
No sponsors listed.
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