Are you planning to buy a dream house, a car?
Or making just about any big purchases? Maybe you are paying off the monthly mortgage at this very moment and you’re figuring out ways to pay for it. As good as your dream is, you will have to face reality and need to pay for it! A mortgage is when you have a bank, for example, pay it for you. In return, you will pay them monthly depending on the agreement of the duration of the loan. You do not have the full ownership of the property you bought until it is done and all paid.
Monthly mortgage payments may seem easier while bi-weekly mortgage offers an easier and more efficient way to pay it off with less interest and it should not feel that heavy. This also allows you to finish up additional payments. However, people perceive bi-weekly mortgage as having to pay more than your supposed loan.
Your mortgage term will be divided into 2, that means you will have to pay twice in a month. Let’s say you have a one year worth of mortgage, by doing bi-weekly, you will have to pay it off in twenty-four times. This increases the pace of your loan pay off and this can help you save thousands of dollars.
Property investment and house mortgage financial concept Hand putting money coin stack with wooden house
To make these things easier for you, here are some sites who offer bi-weekly mortgage calculator for you to plan efficiently.
Bankrate.com
This free website offers a large scale of interactive and efficient money calculations from mortgages, banking, credit cards, loans and more. Run by an advertisement support, this allows you to enjoy their full services for free. They can give advice too.
NerdWallet.com
NerdWallet offers clear and easy ways to calculate more than just mortgages. This website helps you in planning for future expenses by giving you the accurate data and computations you need.
Guidestone.com
This website gives an easier and a very simple user interface for your calculation needs. Guidestone aids you in planning your expenses and helps you save more money while you pay your monthly mortgage.
Now you can dive into buying new properties with a concrete payment strategy that will fit your lifestyle. This payment scheme is beneficial for those who want to speed up their payment duration and aids in saving up more money for you in the future. Found the perfect calculator for you yet?
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