Updated over 7 years ago on . Most recent reply
Extra principal payment (Yearly Max)
Is there a yearly max on how much the principle can be paid down each year (in addition to regular mortgage payments)?
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Andrew Postell
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Lender
Pro Member
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- Fort Worth, TX
@Yeng Hawj this is dependent on if your loan has a prepayment penalty or not. Assuming your loan DOES NOT have a penalty (As in a Fannie Mae or Freddie Mac loan) then you can pay as much as you like each year.