You would have to call the lender and ask that question. There isn't enough information in your question to answer it.
Premature repayment amounts to loss of interest income for the lender. Hence most financial organisation levy penalty when you terminate your loan before the expiry of its original term. This penalty varies from organisation to organisation . You can look up the terms and conditions of your loan to find specific answer to your question.
Use a mortgage loan pre-payment calculator such as:
http://www.mortgage-calculators.org/cal … lc_type=17
http://www.mortgage-calculators.org/cal … lc_type=11
http://www.mortgage-calculators.org/cal … alc_type=3
You certainly left out many details in order to answer your question.
The best advice is to take you current loan amount and plug it into a mortgage calculator to find the answer.
The savings you get is the interest only, your principal balance would be your loan amount. You do not get any discounts on principal.
Hope this helps,
please confirm of your paid for loan with your agent/bank officer,
if you want to know more details for secured loans visit gallery finance in UK.
they provides best services for secured loans,car loans ,home loans etc...
by Shepherd's Lamb14 months ago
I just want to discuss what's going on in my little head right now and hope to hear from those of you more educated on the subject.I qualified to buy a condo in 2004 (six years ago). I paid $6,000 cash for...
by wishingonastar7 years ago
Let me start off by saying that this loan is a Freddie Mac loan. This loan has been sold so many times throughout the 10 years I have lived here. I fell on hard times and tried for a loan modification. My...
by somethgblue4 years ago
Now that I have made my first payout of $55.67 how often will I get paid?I earned my first payout months ago and have more than doubled my earnings since then yet I have not received another payout. When do I get paid...
by slaffery3 years ago
When NFL players get hurt for the rest of the season do they lose pay or still get compensated?When an NFL player gets hurt during the game and is out for the rest of the season, Do they still get paid?
by cknlgs29507 years ago
I owe $408,000.00 on a 6% interest only mortgage. My monthly payments are $2125.00 per month. ...If I pay the loan down to $143,999.00, what would my monthly payments be?
by InfoFinder5 years ago
What is a balloon payment?
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.