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Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:

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Partial Prepayment

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Many borrowers choose to make partial prepayments of their mortgage, commonly when they receive a lump sum such as a bonus or an inheritance. This way, the capital is reduced and the mortgage is paid off sooner.

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