Bi-Weekly Mortgage Payments

Did you know that at any time throughout your loan you can call customer service and sign up to pay your mortgage bi-weekly? You can request them to split your total payment in half and you pay that amount every other week. This is helpful for people who would rather pay the smaller amount then have to pay the total all at once. Also, when paying bi-weekly you are actually making one extra payment per year which will pay off a 30 year loan about 7 years early. In most cases when you set up bi-weekly payments you can also arrange to have your mortgage automatically debited from your bank account.


Courtesy of Cindy Kelley - Van Dyk Mortgage Services