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Updated about 7 years ago on . Most recent reply

Nancy Zhao's profile image
Nancy Zhao's profile image
Nancy Zhao
  • from San Diego, California
  • Member since Nov 6, 2017

User Stats

69
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35
Votes
Nancy Zhao's profile image
Nancy Zhao's profile image
Nancy Zhao
  • from San Diego, California
  • Member since Nov 6, 2017
Nancy Zhao
  • San Diego, CA
35
Votes |
69
Posts
Private Lending & Conventional Mortgage Advice

Paying additional principal on a Hard Money Loan

Nancy Zhao
  • San Diego, CA
Posted

I've never actually wanted to do this before, but now I'm considering it.

Does making a partial payoff on the principal of a standard fix/flip hard money loan(12 months interest only with balloon, no prepayment) actually reduce the monthly interest payment? Not sure if HMLs behave more like amortized mortgages or HELOCs.

Anybody ever done this?

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