Repayment of loan
For automatic withdrawal of funds, you must fill out a special request form. If you prefer direct deposit, fill out the request form for direct deposit.
At your request, Weststar transfers your funds quickly and accurately. When conducting a transaction, the company applies an automatic draft form.They do it for the convenience of users who prefer this service. You can choose an automatic transfer or send a payment by mail. In any case, they will send payment coupons with the details of the borrower's account by mail within two weeks after the payment date. The automatic draft is a confirmation that Weststar will process your payment.
Weststar has a big schedule of fees. They may have prepayment fee, balloon fee, reconveyance fee, demand monitor fee and many others.
Early payoff
Borrowers can pay back their loan early. However, there are penalties for early paying, which enlarge the amount of their debt. This means you need to carefully consider paying your mortgage earlier that the end of the term. It might cost you more.
To determine whether to pay the loan off earlier, calculate the interest amount you can save and the penalty you will receive. If your savings are much higher, pay the loan off.
