Lets say I have a traditional 30 year mortgage and my monthly payment is $700.
Is there any benefit/upside to paying 3 months up front? Would it reduce my interest cost down the road? How would Bank of America treat a prepayment like that?
Added (1). I have some extra $$ and want to make sure I am paying the least amount of interest as possible.
Read more: Benefit to making multiple mortgage payments on 30 year mortgage?
