Prepayment
The unscheduled partial or complete payment of the principal amount outstanding on a loan, such as a mortgage, before it is due.
Concept at a glance
Definition and explanation
The unscheduled partial or complete payment of the principal amount outstanding on a loan, such as a mortgage, before it is due. [1]
Source-supported connections
Frequently asked questions
What does Prepayment mean in the cited reference?
The unscheduled partial or complete payment of the principal amount outstanding on a loan, such as a mortgage, before it is due. [1]
Prepayment connection map
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Sources and review dates
Reviewed 23 October 2026. Historical dates and award-time affiliations retain their original context. A review date is not an event date. Background sources are identified separately from official records.