Please note that in the following website  address of :

 http://www.miami.cc/loanprograms.htm
 
it is written that "we or our funding sources do not charge 
prepayment penalties"  for  real estate loans, so therefore I want to
know that what is the "meaning" of that mentioned statement ??

"Pre-payment" means you pay off the loan faster than the intended
term. Say you sign a 30 year mortgage on a $130,000 house for $850 per
month. With no pre-payment penalty, you would be able to pay more than
the monthly payment without being charged a fee. For example, you
could pay $1,000 per month to pay down the loan faster. When you pay
more than the standard payment, the remainder goes directly to the
principle on the loan (the $130,000). Thus, you pay off the loan
faster and the company obtains less interest money over time. Some
companies will not allow you to pay more than the standard payment,
thus will charge you a fee to assure they get a set amount of money
for the term of the loan. Hope this helps!

pre-payment penalties inure to the benefit of the lender and therefore
at the peril of the borrower in the case of total early retirement of
the debt. that amount can be far more significant in single lump sum
than periodic payments because it is a single lump sum. if a mortgage
carries a pre-payment penalty, designed to protect the cash flow and
reinvestment risk of the lender, any early retirement of the debt such
as refinancing of the loan or retirement of the debt as a result of
sale will incur said pre-payment penalty. conversely, a loan carrying
no pre-payment clause will allow the borrower to avoid those costs
down the road yielding greater flexibility in the future as borrower's
circumstances, needs and desires change.