Seller Financing with interest

[Ahmed Afifi]

A seller financing deal with 5% interest. The language covers the buyer’s ability to make extra payments or pay off early without penalty.

The question is;

What are the standards for paying the monthly payment early to reduce the interest impact? Are there interest payment standards or must be language specific in the contract?

Meaning if the mortgage is due on or before the 10th of each month, will it help long term if the payment is made the month prior on the 25th etc?

Any help or tips would be appreciated.

Thank you.