Unraveling Biweekly Mortgage Payments: A Good Repayment Method for Mortgages
Sometimes mortgage lenders make an interesting offer: pay your mortgage every two weeks instead of once a month. The idea is that you’re paying 26 times in a year (52 divided by 2) instead of the usual 24 (12 months times 2). It’s an extra payment annually. This might help you own your home sooner and save tens of thousands in interest over the life of your loan.