What are typical pre-payment privileges available with my mortgage?
Most lenders today offer prepayment privileges of 15% of the original mortgage balance. There are a few exceptions that offer only 10% and others that offer 20% and even 25%. You can increase the payments by up to double the regular payment but it is not necessary to double up. As well, prepayment privileges can typically be taken advantage of in the form of annual lump sum payments, too.