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What is the difference between a regular payment and an extra payment on a loan?

Regular payments are your scheduled payment amounts of principal, interest, and escrow (if any) per your loan terms. An extra payment is made in addition to regular payments.

When you set up a payment through the Loan Manager, you can specify how much of the extra payment is to be applied to the principal, the interest, and/or to the fees and charges on your loan.

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