Making extra payments will save you a little bit in interest every month for the entire life of the loan. (SoFi.com)
Not only does your remaining balance drop, but you will not have to pay interest each month on that principal for the remainder of the loan term. (zillow.com)
In addition to your monthly mortgage payments, you'll have to pay the lender principal and interest each month for a personal loan until you pay off the entire balance. (valuepenguin.com)