A payment by a borrower of more than the scheduled principal amount due in order to reduce the principal. This also enables the borrower's future interest payments to be reduced.
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May 6, 2003 ... The first has you making an additional principal payment equal to one-twelfth of a monthly mortgage payment each month. The second strategy ...
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When you look at your mortgage payment slip each month you may notice that you have the option to make more than your required payment each month.
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Definition of additional principal payment: A payment by a borrower of more than the scheduled principal amount due in order to reduce the principal. This also ...
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Definition of additional principal payment: Additional money paid to the lender, apart from the scheduled loan payments, to pay more of the principal balance, ...
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Apr 11, 2009 ... What happens when you make an additional principal payment on a amortized loan? Profile picture for Noomie. Noomie; Contributions:2 ...
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What Are the Benefits of Paying an Additional Principal Payment on Your Mortgage?. When the economy is no longer a selling market, homeowners begin ...