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| Mortgage Prepayments |
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Increase Payments
Increase your mortgage payment once each year up to:
10% over the current payment if you have a Low Rate Fixed Closed mortgage; or
20% over the current payment if you have any other kind of closed mortgage.
Lump Sum Payment
Prepay each year in minimum amounts of $100:
10% of the original mortgage principal if you have a Low Rate Fixed Closed mortgage; or
20% of the original mortgage principal, if you have any other kind of closed mortgage.
Try different scenarios and see which is best for you.
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| How to use it... |
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Complete the info
about YOUR SITUATION. |
| 2.
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Fill out the information
for either either “Increase Payments” or “Lump Sum Prepayments". |
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Click the Calculator
button for the option you want to test. |
| 4.
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To try again with
different numbers, type over your old numbers, or click CLEAR.
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