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Advice on paying off your commercial mortgage loan early

This article will advise you on paying off your commercial mortgage loan - early.

Make mortgage loan prepayments to pay off your commercial mortgage loan early

Want 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 early

Want 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:

  • Any prepayment you make during your mortgage loan term.
  • That final repayment of principal that's usually left for you to make at the end of your mortgage loan term.

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 early

Want 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 early

Want 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.

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