Biweekly Mortgage Program - Find the definition of mortgage loan terms using our morgage glossary...

"Keeping Your Best Interests At Heart"

Interest Rates Guaranteed Less Than All Major Banks in the Nation

Experienced Agents With Complete Knowledge of Biweekly Mortgage Financing

No hassles or obligations - just great service!

Biweekly Mortgage Definition is provided...

Fees Explained I Points Explained I Bad Credit Mortgage I Beat The Banks Guarantee

Biweekly Mortgage Program

A Biweekly Mortgage is a loan payment plan where borrowers make payments to principal & interest every 2 weeks rather than once monthly. The Biweekly payment is half of the amount a monthly payment would be. The savings a Biweekly Mortgage payment plan can create are often substantial though the numbers often mislead borrowers. A thirty-year loan of $200,000 at 6.5% will have a monthly payment of $1,264.14. When this loan is converted to a Biweekly loan payment plan, the payment will be $632.07 paid every 2 weeks. Paying the loan this way will result in the loan being paid off almost six years earlier & it will result in a total savings of $58,747.11. The key to a Biweekly loan plan is that rather than making twelve full payments through out the year, you will make twenty-six half payments or thirteen full payments each year. This is because there are twenty-six two-week periods each year. On account of this some months require three payments or one and a half standard payments. Many experts maintain that keeping an existing monthly payment mortgage and making an extra payment each year will produce the same savings as a Biweekly loan payment plan would. They also maintain that many loan companies charge rather substantial service fees to convert a loan to a Biweekly plan.

Biweekly Payments are due every 2 weeks on your mortgage

Biweekly Mortgage Program

Biweekly Payments are due every 2 weeks on your mortgage

Ask A Consultant how a Biweekly Mortgage Program can be of benefit