You can make lump sum payments to reduce your principal balance, but these payments must be made to a cashier at an NHT Office. You must tell us that this is the purpose for which you are making the extra payment; otherwise the extra sum may be treated as a pre-payment. After making a lump sum payment, you may ask for your account to be rescheduled so that you can benefit from a reduced monthly payment. You should continue to make regular monthly payments until the loan is paid off.
If you intend to pay off your mortgage early, please contact us for a payoff statement to verify your final loan balance prior to making the final payment.