Real Estate Home Mortgages/paydown mortgage principle


Hi. I have a 500k mortgage in n.y.
30 yr 3.58%. 28 yrs remain on 30 yr .
I want to make an extra payment either semi monthly or monthly in addition to my reg payment of p & I....
I want to apply that payment to my principle only ..not my interest. How can I do this and b e sure the lender is applying that amount correctly. Thank you.

typically, you will receive a mortgage statement every month.  On the payment coupon, you have an option to pay "PRINCIPAL ONLY" in addition to the normal monthly payment.  You would see this on the next monthly statement that gives you a breakdown of your monthly payment.
IF you do not get a monthly statement, please call the company you make your mortgage payment to and discuss with them how to do this.
I hope this helps you out, Christina.
Brian Hahn  
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This topic answers questions related to purchasing a home, owning a home, home ownership, mortgage education, mortgage applications, and mortgage needs whether buying a first home or refinancing a current loan. Issues related to home ownership, home equity, mortgage education, refinacing options, home improvment finacing, first time home loans, home equity loans, vactation home loans, and mortgages for investment homes are dealt with here also. Though not the primary focus of this topic, Home Equity Lines of Credits (HELOCS), reverse mortgages, and calculating home equity may also be asked. If you do not see your home mortgae, home finacing, or home equity question answered in this area then please ask a question here

Real Estate Home Mortgages

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Brian HAHN


I am a mortgage banker/loan officer.Have top knowledge of all types of mortgage loans.Can assist nearly anyone looking to finance a residential property.I enjoy traveling [Society Islands (Tahiti, Bora Bora), Hawaii (Maui) and Africa (Zimbabwe)].I keep detailed information on adventures and am willing to share this information with others.{{Bachelor of Science in Business Administration from the University of Iowa, 1986"


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