[raverbashing]

Not "can" but "might be able to". For example, new builds might get you a lower interest rate, but if you go to refinance, then it's not a new build anymore. (Though in one way this is usually true - a lower principal will give you a lower interest rate usually)

A lot of banks do charge you a penalty for repaying before the (fixed interest) term in case of fixed rate mortgages.

[nemo44x]

Not in the USA. Any mortgage allows repayment without penalty. Banks actually want it that way as their business is underwriting loans and the fees associated with them.

[raverbashing]

I believe you though Zillow mentions this possibility (see the "restrictions" part) https://www.zillow.com/mortgage-learning/prepaying-your-mort...