Biweekly Mortgage

"What Can A Biweekly Mortgage Do For Me?"

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What Is A Biweekly Mortgage?

A biweekly mortgage is an extremely popular and economical way to save money, build equity faster and payoff your mortgage years earlier without refinancing.

In essence, your thirty year mortgage can be converted into a fifteen year mortgage without refinancing and without paying the higher fifteen year mortgage payments.

In Summary

The benefits of a biweekly mortgage are as follows:

• More affordable payments (total mortgage payments are reduced)

• Shorter loan term (your mortgage can be paid off 9-16 years sooner)

• Faster equity build up (by up to 300%)

• It speeds up ownership

• Interest savings (ex: a 7.5% fixed rate is equivalent to a 4.75% biweekly interest rate)

How Is This Possible?

A biweekly mortgage simply prepays your principal, thus eliminating years of interest payments. For Example: on a $175,000, 7.5% fixed rate, 30 year mortgage...you would save a total of $156,993 in mortgage payments and your mortgage would be paid off in 19 years, instead of 30 years. Plus, your biweekly equivalent interest rate would be 4.75%.

A Lower Biweekly Mortgage Interest Rate

A biweekly mortgage builds equity faster and pays off your mortgage years earlier. Due to this, you pay back interest on a smaller loan balance and for a shorter period of time. The result is a significant interest savings over the life of your mortgage. For Example: a 7.5% fixed rate is equivalent to a 4.75% biweekly fixed rate.

What The Press Is Saying

The New York Times states that, "A biweekly mortgage will result in a reduced term for the mortgage, a substantial savings in interest and an acceleration of equity".

No Restrictions

A biweekly mortgage can work with any fixed rate mortgage. Plus, there are no credit checks, no income checks, no employment checks, no refinancing requirements and no closing costs.

Biweekly Mortgage Counseling

To receive free biweekly mortgage counseling and to receive a free illustrative report comparing your current mortgage to a biweekly mortgage, please click here.

Additional Information

For frequently asked questions click here.

To view an illustrative example click here.