Mortgage mini-glossary

Weekly accelerated mortgage payments

Weekly accelerated mortgage payments are payments that are one quarter (1/4) of the amount of regular monthly mortgage payments, that you can make every single week (52 times a year).

So if you make weekly accelerated mortgage payments, you'll end up making the equivalent of one extra monthly mortgage payment per year (like 13 monthly mortgage payments a year) and you'll end up paying off your mortgage quicker.

If you just make weekly normal/non-accelerated mortgage payments, you'll just make the equivalent of 12 monthly mortgage payments a year, and you won't pay off your mortgage as quick as you would with weekly accelerated mortgage payments.

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