What is an accelerated mortgage payment?

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What is an accelerated mortgage payment?

Rounding it up

  • Accelerated mortgage payments are a great way to free up some capital that you’re currently committing to monthly payments.

  • However, accelerated mortgage payments are not headache-free. They may come with prepayment penalties, depending on the type of mortgage contract you have.

  • These penalties can stack up into the five digits, so ensure you do the calculations and understand all terms before making any decisions.

4 min read

Dan Bucherer
#mortgage#accelerated mortgage payment#loan#home ownership

Dan Bucherer

Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.

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