Biweekly Mortgage Payments: An Easy Trick to Do Them for Free

Posted by on March 24, 2022 · Leave a Comment 

And that biweekly mortgage payments can shave years off the life of your loan and help you accrue equity in your home super fast.

Well, it’s true! Pardon the exclamation point. You probably thought I was going to say it was a bunch of baloney like most gimmicks you hear about.

It’s also fairly easy to set up a biweekly mortgage plan, which requires a payment every two weeks as opposed to every month.

In short, biweekly mortgage payments are a sort of accelerated mortgage payoff system that allow you to make an extra monthly payment each year and in turn save money on interest and pay your mortgage faster.

How Biweekly Mortgage Payments Work

Monthly mortgage payment: $2,000 Total paid annually: $24,000 Biweekly payment (payment made every 2 weeks): $1,000 Total paid annually: $26,000 Result: One extra payment made each year! Read more

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