For prepayments, you can choose a lump sum, percentage increase or dollar increase.

The amount (in dollars or as a percentage) that you will prepay.

The amount (in dollars or as a percentage) that you will prepay.

The payment period is an indicator of the number and order of payments. E.g. A mortgage with a 1-yr term paid monthly has 12 payment periods. A mortgage with a 2-year term paid semi-monthly has 48 payment periods. You can choose to apply the extra payment to any of the payment periods, for example the 5th, 10th, or 41st period.

For prepayments, you can choose a lump sum, percentage increase or dollar increase.

The amount (in dollars or as a percentage) that you will prepay.

The amount (in dollars or as a percentage) that you will prepay.

The payment period is an indicator of the number and order of payments. E.g. A mortgage with a 1-yr term paid monthly has 12 payment periods. A mortgage with a 2-year term paid semi-monthly has 48 payment periods. You can choose to apply the extra payment to any of the payment periods, for example the 5th, 10th, or 41st period.