| Buying a Home - Paying your mortgage off ahead of time
Buying
a Home - Can I pay off my mortgage ahead of schedule?
Yes.
By sending in extra money each month or making an extra payment at the end
of the year, you can accelerate the process of paying off the loan.
When
you send extra money, be sure to indicate that the excess payment is to be
applied to the principal.
Most lenders allow mortgage prepayment, though
you may have to pay a prepayment penalty to do so. Ask your lender for
details.
>> Learn what
type of mortgage home loans are available when buying a home
|
