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How to pay-off your commercial equity mortgage loan early

This mortgage-article will let you know how to pay off your commercial equity mortgage loans early.

• Make prepayments to pay off your commercial equity mortgage loan early
• Make balloon payments to pay off your commercial equity mortgage loan early

Make prepayments to pay off your commercial equity mortgage loan early

Want to pay off your commercial equity 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 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 equity mortgage loan early.

Apply now! Fill out the commercial mortgage application.

Make balloon payments to pay off your commercial equity mortgage loan early

Want to pay off your commercial equity 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 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 equity 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 equity 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 equity mortgage loan or get refinancing. You'll have no more principal to repay, and no more interest to pay. And when you're mortgage-less at the end of your loan's term it means you've paid off your equity mortgage loan early.

Apply online for a commercial equity loan now!

Get more info about commercial equity mortgage loans. Contact The Mortgage Store Online's brokers by using the commercial equity contact form or by calling them at 1-866-674-0548.

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