Bi-Weekly Mortgages

A Bi-weekly Mortgage Payment is a mortgage loan requiring half of the agreed upon monthly payment every two weeks. This results in a larger amount being paid each month, which reduces the principle balance and the length of the term.

By making Bi-weekly payments a borrower can significantly reduce the amount of time and money they spend on their mortgage payments. On a typical 30-year mortgage in Rochester, NY of $125,000 with a fixed rate of 6.5% a home owner would pay off their loan 5 years and 11 months earlier and save a whopping $36,738.95 in interest.

You can use our bi-weekly mortgage calculator to determine how much you can save on your mortgage by making bi-weekly payments.