Contact Information
William Bill Price Real Estate Teams 50 Citizens Way, #400 Frederick, MD, 21701
Office: 301-695-3020 Cell: 301-514-7963 Fax: 800-395-9636
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What about splitting my mortgage in two and paying bi-weekly?
Some people set on paying off their home loan early and reducing interest charges opt for a biweekly mortgage. Monthly payments are divided in half, payable every two weeks.
Because there are 52 weeks in a year, the program results in 26 half-payments, or the equivalent of 13 monthly payments per year instead of 12. Using the biweekly payment system, a homeowner with a $70,000, 30-year biweekly mortgage at 10 percent interest could save $60,000 in interest and pay off the balance in less than 21 years.
Questions about Frederick MD Real Estate?
Ask us below or Call us Now at 301-695-3020 x2793
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Last Updated ( Tuesday, 29 July 2008 )
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