Big month guys.
Nicole L
215

I think your aunt has provided good advice. I’d ask two questions of your lender.

First, can you make multiple payments per month? Some lenders want to maximise your interest charges, so they don’t allow it. Just check to make sure.

Second, if you over-pay (i.e., pay more than the monthly required amount), will the overpayment go directly against the outstanding principal (i.e., you’re paying off what you borrowed, not the interest). We did this for our mortgage payments and the overpayments knocked off many years from the loan.

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