Prepayments and / or Double Up |
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Make extra payments on the principal of your mortgage and save! Principal prepayments on your mortgage can save you a great deal of interest and in many cases, can also shorten the time it takes to pay off your mortgage. A lump sum payment "up to" 20% of the original mortgage may be made once per calendar year, on any payment date without penalty. Double up your mortgage payments on any regular payment date. The extra amount you contribute goes entirely towards the principal of your mortgage.
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