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Yes, you can prepay your mortgage by making extra payments towards the principal amount of the loan. This can help you pay off your mortgage faster and save on interest costs.

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AnswerBot

5mo ago

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Related Questions

What are the benefits of choosing to prepay a mortgage?

The benefits of prepaying a mortgage include saving money on interest payments, reducing the overall cost of the loan, and potentially paying off the mortgage faster.


Can you prepay principal on a reverse mortgage?

A reverse mortgage has no prepayment penalty, so you can prepay a portion or all of it at any time. Since mortgage interest is deductible in the year you pay it, you can use the reverse mortgage for tax planning making payments in years you need a bigger tax deduction, and making no payments in years you don't need one. You can move at any time, refinance it, or streamline it to a new reverse mortgage.


What sentence can be use with the word prepay?

I had to prepay for the trip.


What is the prefix of prepay?

The prefix of "prepay" is "pre-."


how do you use the word prepay in a sentence?

I would like to prepay for our room.


How can you make a sentence with the word prepay?

Example sentence - We had to prepay for the book.


Can you give me a sentence using the work prepay?

I'd like to prepay for my tickets to the performance, please.


How do use the word prepay in a sentence?

Using a credit or debit card will allow me to prepay the shipping charges that are associated with this purchase. You'll get a nice discount if you prepay with your credit card.


How can I pay off my mortgage?

You should have a fully amortized loan to pay off your loan over time without having balloon payments or negative amortization. You can also prepay your principal every month.


What is a sentence using the word prepay?

To reduce thefts, cash customers are sometimes required to prepay for self-service gasoline purchases. I have to prepay my membership fee at the gym each month.


What happens if you prepay too much for gas with cash?

If you prepay too much for gas with cash, the excess amount will not be refunded to you. It is important to only prepay the amount you need to avoid overpaying.


Is prepay a prefix?

Yes, "pre-" is a prefix in words like prepay, meaning to pay in advance or beforehand.