What benefits do I receive for mortgage pre-payments?

Pre-payment typically allows you the following privileges:

• Ability to increase your monthly payment (usually by 15-20%). Keep in mind that you cannot decrease your payments.
• You are allowed to pay a percentage (usually 15-20%) of your principal per year.
• You may be able to double your mortgage payment for a month or a number of months. Remember that you are not allowed to exceed the percentage that you’re permitted to pay down annually.