Mortgage mini-glossary

Weekly normal mortgage payments

Weekly normal/non-accelerated mortgage payments are payments that you make every single week (52 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 weekly normal/non-accelerated payments, you'll pay off your mortgage in the same amount of time as you would with monthly mortgage payments.

But if you make 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).

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