![]() This differs from credit cards and other types of loans, such as HELOCs, where the interest is calculated daily. The interest is already figured out for the month using the previous month’s balance, so it doesn’t matter if you pay a few days early. Your loan servicer may accept payment on that date, but it won’t mean you’ll pay less interest. You might be thinking, “Hey, I can save money on interest if I make my payments on the 20th or 25th of each month, instead of the first of the next month.” Okay, so we know paying late isn’t too smart, but what about paying the mortgage before the due date?
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