IK Financial Metarials
Mortgage Glossary

Mortgage 101 - Lump Sum Payment

What is a “Lump Sum Payment”?
An extra payment that you can make to reduce the amount of your mortgage principal. Putting extra money towards your mortgage helps pay it faster.
When can you make Lump Sum Payments?
🔹At certain times during your term
🔹Before the end of your term
🔹At the end of your term
You only may put a limited amount of money towards your mortgage, as you may face some penalties by paying more.
Let our Licensed Mortgage Agents evaluate and create your Personal Strategy:
Inna Bogdanov 416.268.0004 | Inna@ikfinancial.com
Katerina Markevich 416.388.8153 | Katerina@ikfinancial.com