Save money on your mortgage -- make bi weekly payments as seen on Oprah! |
| 9/7/2008 3:56:33 AM |
Paying your mortgage payment bi-weekly can save you tens of thousandsof dollars in interest on your mortgage and cut years off of the lifeof your loan.
See what Oprah says about bi-weekly payments.
Shorten Your Loan Term Loans that ordinarily take 30years to amortize will pay off in approximately 22 years when paidbi-weekly using an 7% interest rate as the example rate. If your rateis higher than 7%, it will take even less time to pay off your mortgage!
Substantial Interest Savings Due to the faster amortization, you pay interest on a smaller loan balance and for a shorter period of time -- which result in substantial interest savings over the life of the loan.
Convenient Payments Youwill enjoy the convenience of having payments drafted automaticallyfrom your bank account. In addition, payments are times to coincidewith payroll deposits for easier budgeting.
It is easier than ever to get started paying yourmortgage bi-weekly, so there is no reason to delay!
Learn how to sign up for bi-weekly payments now.
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