Can i pay off my mortgage ahead of time ?
Can I pay off my mortgage ahead of time ?
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. Some loans might only have a prepayment penalty of 2 or 3 years only, and some might have no prepayment penalty. Ask your lender for details.
On the right side bar --> there should be some link to websites with more information on how to pay your mortgage off early.
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Detailed tips on Buying a Home;
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Buying a Home - Get Ready to Purchase.
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Can i pay off my mortgage ahead of time ?