What does Additional Principal Payment mean?

In real estate, an additional principal payment is a payment made towards the principal balance of a loan in addition to the regularly scheduled payments. This can help to reduce the overall cost of the loan and pay it off more quickly.

Related Terms

Principle of Progression Blighted Area Judicial Foreclosure Credit Report Commission agreement Latent Defect Judgment Trans-Union Net Cash Flow Document Needs List POF proof of fund Fannie Mae Dutch Colonial Style Real Estate Investment Trusts (REITs) Proposal To Lease Blanket Insurance Policy Principal Term Length