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Acronym Monday: PP

Principal Payment

What else do you talk about when standing in line for the bathroom?

A prepayment sometimes called a principal payment, is a great way to save on interest costs and reduce the life of your mortgage by making a payment directly to the principal.

This is an optional payment from your regular monthly payment and can be made anytime during the year.

Check your mortgage agreement to see which prepayment privileges you have.


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