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#1
11-24-2004, 09:08 PM
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 Re: Mortgage prinicipal payment? "sudhir" <usudhir[at]yahoo.com> wrote in message news:9d2de057.0411232007.3939d8e4[at]posting.google.com... - quote - > Currently I am paying 2K as my mortgage.If I pay additional 10% of the
if you have a fixed loan, it will not reduce monthly payment. It will reduce> principal, would it help in reducing my monthly mortgage? length of the loan. if you have a variable loan, it will reduce monthly payment since extra payment reduces the balance of the loan. There are many different variable loans. Many variable loans change monthly payment yearly. Some change monthly. Ask your loan agent, he/she will tell you. |
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11-24-2004, 01:15 PM
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| Re: Mortgage prinicipal payment? On Wed, 24 Nov 2004 04:03:01 CST, sudhir <usudhir[at]yahoo.com> wrote: - quote - > Currently I am paying 2K as my mortgage.If I pay additional 10% of the
No, it would just shorten the term of the loan.> principal, would it help in reducing my monthly mortgage? - Rich |
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#-1
11-24-2004, 09:03 AM
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| Mortgage prinicipal payment? Currently I am paying 2K as my mortgage.If I pay additional 10% of the principal, would it help in reducing my monthly mortgage? |
| Tags |
| mortgage, payment, prinicipal |
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