Frequently Asked Questions

Can I make a bi-weekly payment?

Yes, our servicers allow you to set up bi-weekly payments. However, you should seriously weigh the merits of this program before setting it up. A bi-weekly payment program pays off the mortgage early by making 13 payments each year (52 weeks in a year divided by 2 equals 26 half-payments or 13 full payments).

Another option would be to simply add additional principle to each monthly payment (specifically adding 1/12 of a normal monthly payment will get you at the same effect of bi-weekly payments getting you at 13 payments per year). Much simpler, and reduces your principle each time, which then reduces the interest charge as it is only applied to the remaining principle balance.