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2. PSA prepayment model - Wikipedia

   en.wikipedia.org/wiki/PSA_prepayment_model

   Each monthly prepayment is assumed to represent full payoff of individual loans, rather than a partial prepayment that leaves a loan with a reduced principal balance. Variations of the model are expressed in percent, e.g., "150% PSA" means a monthly increase of 0.3% in the annualized prepayment rate, until the peak of 9% is reached after 30 months.

3. Mortgage calculator - Wikipedia

   en.wikipedia.org/wiki/Mortgage_calculator

   The fixed monthly payment for a fixed rate mortgage is the amount paid by the borrower every month that ensures that the loan is paid off in full with interest at the end of its term. The monthly payment formula is based on the annuity formula. The monthly payment c depends upon: r - the monthly interest rate. Since the quoted yearly percentage ...

4. Amortization schedule - Wikipedia

   en.wikipedia.org/wiki/Amortization_schedule

   The last payment completely pays off the remainder of the loan. Often, the last payment will be a slightly different amount than all earlier payments. In addition to breaking down each payment into interest and principal portions, an amortization schedule also indicates interest paid to date, principal paid to date, and the remaining principal ...

5. What happens when you pay off your mortgage? - AOL

   www.aol.com/finance/happens-pay-off-mortgage...

   A loan payoff letter: This document will show (down to the penny) what you need to pay off the remainder of your mortgage, plus any owed interest or fees. If you have paid everything off, it will ...

6. Dave Ramsey’s 7 Tips for Quickly Paying Off a Mortgage - AOL

   www.aol.com/dave-ramsey-7-tips-paying-120027516.html

   The Dave Ramsey mortgage plan encourages homeowners to aggressively pay off their mortgages early, however. One recommendation Ramsey makes is to convert your 30-year mortgage into a fixed-rate ...

7. Should I pay off my mortgage early? - AOL

   www.aol.com/finance/pay-off-mortgage-early...

   So, if your outstanding loan balance in year two is $295,000 and you pay your mortgage off, the lender could charge a prepayment penalty of up to $5,900. How do you prepay your mortgage?