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Updated over 5 years ago on . Most recent reply

M Ballard's profile image
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M Ballard
  • Member since May 5, 2020

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M Ballard's profile image
M Ballard's profile image
M Ballard
  • Member since May 5, 2020
M Ballard
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Private Lending & Conventional Mortgage Advice

Balloon payment on a mortgage

M Ballard
Posted

We have a balloon payment due in 15 years on our mortgage. Can I make an extra payment towards the principal balance every month and essentially pay the balloon off?  I know you can refinance but I would rather make extra payments now and pay it off. 

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