![]() |
Bi-weekly normal mortgage paymentsWhat are bi-weekly normal/non-accelerated mortgage payments? They're mortgage payments that you make every other week (26 times a year), that pay off the same amount on your mortgage per year as 12 regular monthly mortgage payments would. So if you make bi-weekly normal/non-accelerated payments, you'll pay off your mortgage in the same amount of time as you would with monthly mortgage payments. On the other hand, if you make bi-weekly accelerated mortgage payments, you would end up making the equivalent of one extra monthly mortgage payment per year (like 13 monthly mortgage payments a year). The Mortgage Store Online, Inc. Copyright ©2007 The Mortgage Store Online, Inc. All rights reserved. |