Is there a penalty for selling your home with in the first 3 years?
I heard that there was an pentaly for selling your home, within 3 yrs of buying it. How true is this information.
Could be a prepayment penalty from your lender. In Alaska we do not have prepayment penalties, however if you used an out of state lender they are bound by the laws of the state in which they are based so they may have one. I would call your lender for any concerns you have.
Also could be capitol gains tax, I have included a link to IRS so you may get true and correct information. http://www.irs.gov/