Bi-weekly payment on Mortgage

Did you know there's a clever trick to paying off your mortgage faster?

Switching to BI-WEEKLY PAYMENTS instead of monthly can save you thousands in interest, and even shave off 7 years from a 30-year loan!

The banks won't tell you this! Take control of your finances today.

#Mortgage #Tips #FinancialFreedom #SaveMoney #PayOffDebt #HomeOwnership #Goals #MoneyManagement #Smart #Investing #PersonalFinance101 #Interest #Savings #BiWeekly #Payments #Clickstart #fyp

[kabob]

Yes, the banks will tell you this. My credit union literally has me on a biweekly payment plan for my vehicle.

[Big_Gamer]

want a real tip? pay MORE when you can on your payment plans to pay it off early, I do this with EVERYTHING, doesn't matter what it is. if I have a payment plan I will pay more than the minimum amount to pay it off sooner. if i cant afford a payment at some point well no worries cause i already paid that payment off before so i can likely get some leniency on later payments or even end the payments much sooner. lets you be a lot more flexible in how fast you pay it off and can actually help you in the long run, you're welcome!

[joannodonnell]

Just remember not all banks or services except this, if they do they may not apply it until all payments are received. You have to find this out first.

[vishnu]

You are wrong. The one extra payment is applied against principal and would shave off 6 years off of 30 year loan.

[MartinPienaar-nvik]

or save money is a investment with a roi higher than your intrent and make sure you have a lumpsum payment option and pay big lumpsum at the end

[actionnewsinligme]

ROI on paying down most mortgages is awful. If your mortgage is under 6% and fixed take the extra cash and put it in ETFs. Avg market returns are around 8%