Private Money: Making Extra Payments?

[Bill Mitchell]

With private money for say a rental property, are you generally able to make extra payments on the debt every month to pay off the loan faster? On the same note, could you get a 15 year private money loan on a rental, and then decide to completely pay it off 5 years in?

Or are there generally stipulations and such that prevent you from doing so between you and the individual(s) loaning you the money. This is strictly regarding private money, not hard money loans.

Thanks guys