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Can I reduce principal & monthly payment

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jrmarin Joined: 22 Apr 2011 Posts: 1 1.26 Dollars($)	Posted: Fri Apr 22, 2011 1:51 pm    Post subject: Can I reduce principal & monthly payment Like 0 Dislike 0 If I take $300,000 mortgage toay, my monthly mortgage payment is roughly $1610. In 2 months I put $200,000 toward principal. Approximately, what would be my new monthly payment?
Jasmine Guest	Posted: Fri Apr 22, 2011 8:36 pm    Post subject: Like 0 Dislike 0 It will depend upon your lender whether or not he will reduce your monthly payment. Moreover, pre-paying mortgage may make you liable for paying penalty.

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