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69
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Nancy Zhao
  • San Diego, CA
35
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69
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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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