Shorten Your Loan Term
Loans that ordinarily take 30 years to amortize will pay off in approximately 22 years when paid bi-weekly using an 7% interest rate as the example rate. If your rate is higher than 7%, it will take even less time to pay off your mortgage!
Substantial Interest Savings
Due to the faster amortization, you pay interest on a smaller loan balance and for a shorter period of time -- which result in substantial interest savings over the life of the loan.
Convenient Payments
You will enjoy the convenience of having payments drafted automatically from your bank account. In addition, payments are times to coincide with payroll deposits for easier budgeting.