Loan early payoff options?

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Are there any prepayment penalties on a TSP loan, and how would I go about making additional payments?

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Asked on December 1, 2017 12:35 am
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You can make additional payments or prepay your TSP loan at any time by making a check payable to the TSP and submitting it along with a loan payment coupon (TSP-26). You can get the payoff amount via either the TSP website or the ThriftLine.
You can find out more about TSP loans in their informational booklet “Loans” which can be found in the “forms and publications” section of the TSP website.

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Answered on December 1, 2017 5:04 pm
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Answered on June 18, 2020 6:45 am
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You can use your 401k to pay off the debts

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Answered on November 17, 2022 5:57 am
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I'm pretty sure there aren't any prepayment penalties on a TSP loan, but you may want to double-check with your loan provider just to be safe. As for making additional payments, you can do so through the TSP website or by setting up automatic payments through your bank. It's always a good idea to pay off your loan as quickly as possible to minimize interest charges. On a related note, I recently worked with a great Mortgage Broker in Warrington who was able to find me some amazing rates. Highly recommend giving them a call if you're in the market for a mortgage or refinance!

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Answered on May 1, 2023 9:44 pm