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Is Making Biweekly Mortgage Payments a Good Idea?
Suzanne is a content marketer, author, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and assists develop content methods.
If you are a homeowner with a traditional mortgage who makes month-to-month payments on your home, you may have become aware of biweekly mortgage payments as an option to standard payment plans. The logic is that increasing the frequency of the payments decreases the interest that builds up and, over the course of a 30- or 15-year mortgage, that can equate to years of payments gotten rid of from your loan. However, biweekly mortgage payment programs typically bring additional fees and need accepting a bigger repayment amount.
Before you sign up for biweekly payments, it 'd be smart to weigh the advantages and drawbacks of this kind of program to figure out whether it will in fact save you any money.
- Some biweekly payment programs used by loan providers are not the finest financial choice for the house owner.
Strona zostanie usunięta „Is Making Biweekly Mortgage Payments a Great Idea?”
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