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.

Next topic * What type of mortgage loans are available?

Detailed tips on Buying a Home;

Buying a Home - Should You be Buying a Home?

* Are you ready to purchase real estate?
* Buying a home vs. renting
* Buying a home and tax breaks

Buying a Home - Get Ready to Purchase.

* Determine your housing needs before buying a home?
* Other questions to ask before buying a home.

Buying a Home - Get Prequalified for a Mortgage.

* What is the difference between mortgage prequalification and mortgage preapproval?
* What is a mortgage?
* How does a mortgage lender qualify you for a mortgage loan?
* What is a credit score?
* How can I get information about my credit report?
* How does my credit report affect my mortgage qualifying for home buying?
* What if there is a mistake on my credit report?
* Can I qualify for a mortgage to purchase real estate without a credit history?
* What income source(s) can be used to qualify for a mortgage?
* How much income do I need to qualify for a mortgage loan?
* What factors can affect my mortgage payment?
* How much of a down payment do I need when buying a house?
* What is an LTV, and how does it affect the size of my mortgage loan?
* What is included in the mortgage payment?
* What is an escrow account? Do I need one when home buying.
* Can I pay off my mortgage ahead of time?
* What type of mortgage loans are available?
* When does an ARM loan (adjustable rate mortgage) make sense?
* What do I need to do to secure a mortgage loan?
* When buying a home, how do I choose the right mortgage lender?
* Are there special mortgages for a first time home buyer?
* How does an interest rate factor in securing a mortgage loan?
* What happens if interest rates decrease, and I have a fixed rate mortgage loan?
* Research down payment assistance, government grants and mortgages by state.
* Mortgage calculator to calculate mortgage payment based on mortgage rates.

Buying a Home - Find a Realtor.

* What is the role of a Realtor, when home buying?
* How do I select a Realtor when buying a house?

Buying a Home - Searching for Homes for Sale

* What questions should I ask when looking for a home?
* What to look for in a community when searching real estate?
* Where can I find resources about communities I like when buying a home?
* How can I get information on local schools?
* When buying a house, how do I find out the price of real estate in a certain community?
* When doing a walk through, what should I look for?

Buying a Home - Make your Real Estate Offer

* When home buying, how do I determine the initial offer?
* What is earnest money deposit?
* Making the final offer to purchase real estate.

Buying a Home - Getting a Mortgage

* Now that you have found a house, take these steps to get a mortgage.
* When buying a house, what do I need to secure a mortgage loan?
* How do I choose a loan program when home buying?
* How do I compare mortgage terms between mortgage lenders?
* Information on mortgages.
* When applying for a mortgage, are there any costs or fees?
* How does a good faith estimate help shopping for a mortgage?
* What is RESPA?
* What are my responsibilities during the mortgage loan process?

Buying a Home - Close your Real Estate Transaction

* What happens after I've applied for a mortgage loan?
* What does a house inspector do, and how does a real estate inspection figure in when buying a house?
* Are there other types of real estate inspections I need when purchasing real estate?
* What are the terms of the sale agreement when buying a house?
* At real estate closing, what will my settlement cost be?
* What do I get after closing?
* What can I expect on closing day when buying a house?

Register today for My Home Search and let's get started!

Home Buying Search Criteria

Please note that all fields followed by an asterisk must be filled in.

Please enter the word that you see below.


Search Miami Dade and Broward MLS
Search Broward MLS

Tips for Home Buyer Miami Dade and Broward homes
Home Buyer Tips

Apply for Home Mortgage
Home Loans

Tips for Selling House
House Seller Tips

Broward Short Sale
Short Sale


Broward Real Estate
Prevent Foreclosure

Miramar Realtor, Pembroke Pines Realtor, Cooper City Realtor, Davie Realtor, SouthWest Ranches Realtor, Weston Realtor, Pembroke Pines Homes for Sale, Miramar Homes for Sale, Cooper City Homes for Sale, SouthWest Ranches Homes for Sale, Davie Homes for Sale, Broward Homes for Sale, Broward Properties, Florida Mortgage Broker, Ugly Houses

Serving Broward County as your Broward Realtor for Broward Homes and House for sale including Broward County the cities of Hollywood, Wilton Manors, Deerfield Beach, Tamarac, Sunrise, Sea Ranch Lakes, Plantation, Parkland, Coral Springs, Pembroke Pines, Lauderhill, Pembroke Park, Oakland Park, North Lauderdale, Miramar, Margate, Lazy Lake, Lauderdale by the sea, Lighthouse Point, Lauderdale, Lauderdale Lakes, Hillsboro Beach, Hallandale, Davie, Dania, Cooper City, Coconut Creek, Weston, Pompano Beach, Southwest Ranches, Fort Lauderdale, Florida.

Serving Miami Dade County as your Realtor for Miami Homes and Miami House for sale including The city of Miami, Miami Beach, West Miami, South Miami, Coral Gables, North Miami Beach, North Miami, Doral, Hialeah, Miami Springs, Miami Gardens, Homestead, Opa Locka, Surfside, Miami Shores, Bal Harbour, Bay Harbor Islands, Florida City, Biscayne Park, El Portal, Golden Beach, Pinecrest, Westchester, Kendall Lakes, Palm Springs North, Miami Lakes, Coral City, Richmond Heights, Palmetto Bay, Cutler Ridge, Goulds, Perrine, Country Walk, The Hammocks, Indian Creek, Naranja, Leisure City, Princeton, Redlands, Medley, North Bay Village, Key Biscayne, Sweetwater, Virginia Gardens, Hialeah Gardens, Aventura, and Sunny Isles.

Serving Broward County as your Broward Realtor for Broward Homes and House for sale including the following ZIP Codes:
33004 33009 33019 33020 33021 33022 33023 33024 33025 33026 33027 33028 33029 33081 33060 33061 33062 33063 33064 33066 33067 33068 33069 33071 33073 33076 33093 33301 33302 33303 33304 33305 33306 33307 33308 33309 33310 33312 33313 33314 33315 33316 33317 33318 33319 33320 33073 33311 33321 33322 33323 33324 33325 33326 33327 33328 33329 33330 33331 33332 33334 33335 33337 33338 33339 33340 33063 33065 33349 33345 33346 33348 33351 33355 33359 33388 33394 33441 33442 33082 33083 33084

Serving Miami Dade County as yourRealtor for Miami Homes and Miami House for sale including the following ZIP Codes:
33010 33011 33012 33013 33014 33015 33016 33017 33018 33030 33031 33032 33033 33034 33035 33054 33055 33056 33101 33102 33107 33109 33110 33111 33112 33114 33116 33119 33121 33122 33124 33125 33126 33127 33128 33129 33130 33131 33132 33133 33134 33135 33136 33137 33138 33139 33140 33141 33142 33143 33144 33145 33146 33147 33148 33149 33150 33151 33152 33153 33154 33155 33156 33157 33158 33159 33160 33161 33162 33163 33164 33165 33166 33167 33168 33169 33170 33172 33173 33174 33175 33176 33177 33178 33179 33180 33181 33182 33183 33184 33185 33186 33187 33188 33189 33190 33192 33193 33194 33195 33196 33197 33199 33231 33233 33234 33238 33239 33242 33243 33245 33247 33255 33256 3325733261 33265 33266 33269 33280 33283 33296 33299

Can i pay off my mortgage ahead of time ?