Houzd Mortgage

Benefits of Bi-Weekly Payments to Pay Off Your Home Faster | Houzd Mortgage

12.09.22 04:50 PM By Whitney

You're probably familiar with the saying, "time is money." Well, that's especially true when it comes to your mortgage.


If you want to pay off your mortgage sooner, but don't know how, making bi-weekly mortgage payments is the smart way to achieve this goal.


With bi-weekly payments instead of making 12 monthly payments, you'll make 26 half-payments, which equals one extra full payment per year.


For example, if you purchase a home for $522,017 and make bi-weekly payments, you will save about $106,615 in interest and shave 6 years off your loan!


Can you imagine being mortgage-free years ahead of schedule?! It’s definitely something to get excited about!


If you'd like to learn more about bi-weekly payments and how much you could be saving - reach out!