Bi Weekly Payments -- Save Money On Your Mortgage
Did you know that you are probably paying more in interest than you need to for your mortgage? Most homeowners don't realize that they can cut years off of their mortgage and save thousands of dollars in the process just by paying their mortgage payment bi-weekly.
How does this work?
Let's say that you currently pay $1,000 each month for your mortgage payment. When you enroll in a bi-weekly program, rather than pay $1,000 per month, you will pay $500 every two weeks. For most people, it is ideal to pay every two weeks because that is when they get paid!
By paying $500 every two weeks rather than $1,000 per month, you will be making one extra payment each year to the principal balance of your loan -- which will reduce the term of your loan by up to eight years!
The bi-weekly mortgage payments option is also a great option for people who want to pay off their homes in a shorter period of time than the conventional thirty year mortgages allow but can't afford the standard fifteen year mortgages. It offers homeowners more convenience and flexibility than a fifteeen year mortgage.
Begin saving money now by completing the "Get Started Now" form on the right side of this page!
Written by the Bi Weekly Payments Team :: August 11, 2008