Bi-weekly And Weekly Payments

Last Updated on Tuesday, 5 June 2012 08:05 Written by Stefan Tuesday, 5 June 2012 08:05


Most mortgages have the option to allow payments to be made on a weekly or
bi-weekly basis. This option may be desirable for two reasons. The first is
it can save you money as you can expect to pay off your mortgage about 4 years
sooner. This can save you dramatically over the life of your mortgage. The
other reason why these options are so popular is that if your employer pays
you on a weekly or bi-weekly basis, you can simplify your budgeting by making
the payment line up with the way you paid.


 

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