How does principal curtailment work?

How principal curtailment works is the same whether you curtail the mortgage partially or completely. The only difference is in the amount involved. In partial curtailment, you can make additional principal payments of any size. Many borrowers choose to do this by making biweekly mortgage payments.

What is mortgage principal curtailment?

Mortgage principal curtailment is shortening the length of your loan by making extra mortgage payments. Curtailment is simply a fancy word for shortening the length of something—in this case, your mortgage. What Does Mortgage Curtailment Mean? When you make extra payments on your mortgage, you shorten (or curtail) the length of your loan.

Is a principal curtailment the same as a regular payment?

No, principal curtailment isn’t the same as a regular payment. Regular payments are made according to your standard mortgage terms; principal curtailment is an additional payment toward the mortgage principal. How do you make a mortgage payment strictly a principal curtailment?