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North Central IN | We do ours as extra principle payment. And FC will accept it. Then we are set up to pay the interest due when our payment is due. But we are always paying extra on our note, never the minimum. We have a recent purchase with a higher interest rate. No place to park the money that pays better without a bunch of risk.
So in this example, pay what you can now as ‘extra principle’. Then pay interest due in March. You should discuss this with FC first, however.
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Farm Loan Payment Early
