How to calculate home loan principal prepayment and how it affects my mortgage term?

Hi,






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Princpal prepayment is very important term in mortage. Borrower is paying yearly or Monthly EMIs to lender. From the pricipal prepayment some part of less EMIs you have to pay monthly or yearly. But in mortgage this small benefit matter a lot for borrower. As this small benefit will end up in long term benefit.

In principal prepayment borrower pays some amount to lender as prepayment it end up in reducing monthly or yearly Installment or it will reduce the term of loan. In both the way borrower is benefited.