Can I make extra payments towards my mortgage to pay it off faster?

Yes, you can absolutely make extra payments towards your mortgage with Central Mortgage Company in order to pay it off faster. We understand that many borrowers aim to reduce their loan term and save on interest. Making additional payments can help you achieve this financial goal. You have the flexibility to make extra payments at any time during the term of your mortgage. Whether you choose to make a lump sum payment or increase your regular monthly payments, these extra payments will directly reduce the principal amount owed, thereby shortening the overall repayment period of your mortgage. However, it is important to check whether there are any prepayment penalties or fees associated with making extra payments, as well as to inform us about your intention to make extra payments to ensure smooth processing.