Payment Frequencies

Are you paid Biweekly? Semimonthly? Why not pay your mortgage every time you're paid? Instead of going with the traditional monthly mortgage payment try switching to a more frequent payment schedule. This allows you to apply more of your payment to the balance, and less to interest.

For a $300,000 mortgage, at an interest rate of 4.00%, making Accellerated Biweekly payments instead of monthly allows you to pay off your mortgage in 29.7 years instead of 35! You would be mortgage free over five years sooner just by paying every second week instead of every month, which represents a savings of $84,104.64! Just for paying your mortgage more frequently.

The SharieMarieMortgageTeam will work with you to develop a plan like this one that will allow you to keep more of your money in your pocket.