Real Estate Glossary

Additional principal payment

7 years ago

by Richard Wilson

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Written by Richard Wilson

This refers to the extra payment that is sent to the mortgage company to help pay the principal portion of a certain loan. Additional principal payments usually exceed the normal monthly payment amount. It can help borrowers pay off the mortgage before the maturity date in order to save on interest payments.

This refers to the extra payment that is sent to the mortgage company to help pay the principal portion of a certain loan. Additional principal payments usually exceed the normal monthly payment amount. It can help borrowers pay off the mortgage before the maturity date in order to save on interest payments.

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Richard Wilson