paying mortgage bi-weekly

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Contact Information

Joyce C. Jeffrey

Summit Executive Realty

4530 Barksdale Boulevard, Suite E

PO Box: P.O. Box 8341

Bossier City, Louisiana, 71112

Office: 318-747-3117

Cell: 318-208-0470

joycejeffrey@realtor.com

Lic. #: Licensed in Louisiana USA

paying mortgage bi-weekly

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What about splitting my mortgage in two and paying bi-weekly?

Some people set on paying off their home loan early and reducing interest charges opt for a biweekly mortgage. Monthly payments are divided in half, payable every two weeks.
Because there are 52 weeks in a year, the program results in 26 half-payments, or the equivalent of 13 monthly payments per year instead of 12. Using the biweekly payment system, a homeowner with a $70,000, 30-year biweekly mortgage at 10 percent interest could save $60,000 in interest and pay off the balance in less than 21 years.

Questions about Shreveport, Louisiana Real Estate?

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