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All payments made in excess of the minimum required after month 18 go to reduce the principal balance of the contract.
These payments will not change the required minimum monthly payment , but will reduce the number of months until the contract is paid off, or at lease least reduce the size of the final payment.
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Calculations and spreadsheets are internal only! |
Calculation example (assuming buydown):
Monthly Payment
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(Concert) Level Pay
The Level Pay product functions exactly as EverOwn is described above. It is the EverBright RIC being sold by a partner’s brand.
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