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What is the difference between making a regular payment to a loan or applying a payment to only principal?
Generally, an unscheduled loan has interest compounded at the end of a time period (in most cases a month, sometimes a week.) When you make a loan payment, you are generally paying both accrued interest and principal debt. When you pay only to the principal, you are paying back the original amount without interest. This is done by people in order to reduce future interest payments.
What is the difference between mortgages and amortized loans?
The main difference between mortgages and amortized loans is that a mortgage is a type of loan specifically used to buy real estate, while an amortized loan is a loan where the principal amount is paid off gradually over time through regular payments that include both principal and interest.
Is the extra payment always applied toward principal?
No, it isn't, you need to make it clear either by phone, or on the payment, that you want the extra to go towards your principal, and not towards interest, or any other packages you may have in your loan. It's best to make a phone call to make sure they allow you to do this, and to get it in your file. Then each time you pay the extra show it on the payment slip, and/or on your check, clearly with the dollar amounts for each, regular payment and extra principal. You don't need any chances for a misunderstanding.
What is the difference between amortizing and interest-only loans?
Amortizing loans involve regular payments that reduce both the principal amount and interest over time, while interest-only loans require only interest payments for a set period before the principal is paid off in full.
A regular payment made to a person after they retire?
A regular payment made to a person after they retire is called a pension
What is the difference between making a regular payment to a loan or applying a payment to only principal?
Generally, an unscheduled loan has interest compounded at the end of a time period (in most cases a month, sometimes a week.) When you make a loan payment, you are generally paying both accrued interest and principal debt. When you pay only to the principal, you are paying back the original amount without interest. This is done by people in order to reduce future interest payments.
What is the connection between a bond principal and interest?
The bond principal is the initial amount borrowed by the issuer, while the interest is the payment made by the issuer to the bondholder for the use of the principal. The interest is usually a fixed percentage of the principal amount and is paid at regular intervals until the bond matures.
When a borrower makes a regular monthly payment to their primary mortgage the amount of the payment that is applied by the lender to reduce the outstanding balance is called what?
PRINCIPAL :)
Difference between a cordless keyboard and a regular keyboard?
Difference between a cordless keyboard and a regular keyboard?"
What is the difference between mortgages and amortized loans?
The main difference between mortgages and amortized loans is that a mortgage is a type of loan specifically used to buy real estate, while an amortized loan is a loan where the principal amount is paid off gradually over time through regular payments that include both principal and interest.
How does a person that has a mortgage on their home with citiMortgage pay their regular payment plus one payment a head?
I assume you wish to pay in advance, one paymant. To do this: look at your payment coupon. It should have a space for additional principal. You will be paying off your principle. Your next payment will be due at the regular time. To have your payment credited to the following month , you need to call the office you are paying and talk to them.
What is the difference between a regular memory card and an Ultra Memory card.?
What is the difference between a regular memory card and an Ultra Memory card
What is the difference between an auto and regular locksmith?
My 16 year old daughter keeps losing her keys? Is there a difference between a regular and auto locksmith?
What is the difference between crown motors and regular motors?
The difference between crown motors and regular motors is that crown motors is a company, and regular motors are not. Regular motors, are the motors that can be found under a car hood.
Is the extra payment always applied toward principal?
No, it isn't, you need to make it clear either by phone, or on the payment, that you want the extra to go towards your principal, and not towards interest, or any other packages you may have in your loan. It's best to make a phone call to make sure they allow you to do this, and to get it in your file. Then each time you pay the extra show it on the payment slip, and/or on your check, clearly with the dollar amounts for each, regular payment and extra principal. You don't need any chances for a misunderstanding.
What is the difference between a regular tessellation and a semi-regular tessellation?
look it upp
Difference between regular polygon and quadrangle?
give me the answer
