Biweekly Mortgage Example¹

The following biweekly mortgage example is based on:

•  $175,000

•  7.5% fixed rate

•  30 year mortgage

•  $1,223.63 monthly mortgage payment (minus taxes and insurance)

Column 1 illustrates the current monthly mortgage payment. Column 2 illustrates the biweekly mortgage payment. Column 3 illustrates the biweekly mortgage payment with an optional payment (this optional and additional payment would accelerate the pay off of this mortgage in an even faster time period, while also increasing the equity build up).

Column 1

Column 2

Column 3

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¹The above example is for illustrative purposes only. Each scenario has to be independently evaluated and only after an evaluation can an actual plan be presented.