![]() |
home | about us | site map | contact us |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
Articles
|
home > commercial mortgages > rates > articles > advice & tips > pay-off your loan early Advice on paying off your commercial mortgage loan earlyThis article will advise you on paying off your commercial mortgage loan - early.
Make mortgage loan prepayments to pay off your commercial mortgage loan earlyWant to pay off your commercial mortgage loan early? Make prepayments. What are prepayments? They are repayments of your principal (the amount you borrowed) that you make any time during your mortgage loan term, in addition to your regular mortgage loan payments. If you make prepayments, your principal gets reduced. And that's a good thing. A reduced principal means there is less of a borrowed amount for you to repay. And there's less of a borrowed amount for you to be charged interest on. When you have less principal to pay back and less interest to pay, guess what? You can pay off your commercial mortgage loan early. Learn more about commercial mortgage loan prepayments Make balloon mortgage loan payments to pay off your commercial mortgage loan earlyWant to pay off your commercial mortgage loan early? Make balloon payments. What are balloon payments? They are any repayments you make in addition to your regular mortgage loan payments. A balloon payment can be:
Make a balloon payment during your mortgage loan term to reduce your principal. A reduced principal means there is less of a borrowed amount for you to repay. And there's less of a borrowed amount for you to be charged interest on. And when you have less principal to pay back and less interest to pay you can pay off your commercial mortgage loan early. Make a balloon payment at the end of your mortgage loan term to repay all the principal you might still owe. Then you won't need to renew your mortgage loan or get refinancing. You'll have no more principal to repay, and no more interest to pay. And when you're mortgage loan-less at the end of your mortgage loan term it means you've paid off your mortgage loan early. Learn more about commercial balloon mortgage loan payments Make constant mortgage loan payments to pay off your commercial mortgage loan earlyWant to pay off your commercial mortgage loan early? Make constant mortgage loan payments. What are constant mortgage loan payments? They are payments that repay a bit of your principal (the amount you borrowed) and a bit of the interest charged on that principal. Make constant mortgage loan payments and you'll reduce your principal. There will be less of a borrowed amount for you to pay back, and less of a borrowed amount for you to be charges interest on. With less principal to repay and less interest to pay, you can pay off your commercial mortgage loan early. Learn more about commercial constant mortgage loan payments Make straight-line principle reduction mortgage loan payments to pay off your commercial mortgage loan earlyWant to pay off your commercial mortgage loan early? Make straight-line principal reduction mortgage loan payments. What are straight-line principal reduction mortgage loan payments? They are payments that each pay off an equal amount of your principal (the amount you borrowed). Make straight-line principal reduction payments to reduce your principal in equal amounts every time you make a payment. That way your principal will be reduced really fast, and you'll keep having less and less principal to repay and be charged interest on. With less principal to repay, and less interest to pay, you can pay off your commercial mortgage loan early. Learn more about commercial straight-line principal reduction mortgage loan payments Find out more information about mortgage loan advice like me by contacting The Mortgage Store Online's brokers. Just use the contact form or call them at 1-866-674-0548. << return to mortgage loan advice and tips articles |
![]()
|
apply online | mortgage refinancing | commercial purchase mortgages | equity loans | commercial finance mortgages commercial loan types | commercial mortgage rates | mortgage calculators | mortgage articles | home mortgage loans | commercial mortgage loans | calculate mortgage payments | view current mortgage rates how to use a mortgage | learn about mortgages | privacy policy | disclaimer | home | contact us | mortgage glossary | about us | site map The Mortgage Store Online, Inc. Copyright ©2016 The Mortgage Store Online, Inc. All rights reserved. |