Biweekly Mortgage

A mortgage where you can make payments every two weeks instead of the usual once a month.

No, that doesn’t mean you’re paying double every month. What it really boils down to is making the equivalent of 13 monthly mortgage payments a year instead of the usual 12, just because you pay half of your payment two weeks early every month (you make 26 payments...one every two weeks for 52 weeks in the year).

Making payments sooner rather than later means you’ll pay off the interest faster, which also means you’ll pay a lot less interest over the life of the loan. If you’re looking to save money, so you can buy that gold $$$-sign chain, look into a biweekly mortgage.