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The AmeriFirst Home Buyer Learning Center

Bi-Weekly Mortgage Payment Services Under Scrutiny

Posted by Mark A. Jones on Wed, Jun 17, 2015

HousingWire recently reported on a national company under scrutiny - and paying the price - for allegedly deceptive marketing tactics. The investigation and resulting lawsuit centers around biweekly mortgage payment services. This is something we've covered in the past. 

Bi-Weekly Mortgage Payment Services: Scam or Service?

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Topics: Presidents Platform, bi-weekly mortgage payments

Is Making a Bi-Weekly Mortgage Payment a Good Idea?

Posted by Dan Moyle on Tue, Oct 9, 2012

The typical arrangement for mortgage holders is for them to pay it off with monthly payments adding up to 12  payments in a year. There is an option though and it is splitting monthly payments into bi-weekly payments.  This kind of arrangement is known as a bi-weekly mortgage and it has some benefits. The main advantage is that such an arrangement can save you thousands of dollars by cutting off years off your loan duration.

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Topics: +, bi-weekly mortgage payments

Bi-Weekly Mortgage: Not Effective for Debt Reduction

Posted by Dan Moyle on Mon, Aug 6, 2012

Any time a person sets a standard mortgage plan, he/she makes a single monthly payment and a total of twelve payments in a year. With a bi-weekly mortgage payment, however one makes payment equal to a half of the standard payment e very two weeks. This is equivalent to 26 half payments in a year. A bi-weekly mortgage payment allows a person to make an extra full payment each year, this takes a full month off the payment schedule each year he/she uses the bi-weekly mortgage payment.

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Topics: +, bi-weekly mortgage payments

Forget Bi-Weekly Mortgage Payments: Just Pay Extra Principal

Posted by Dan Moyle on Tue, Jul 24, 2012

There are several different options to pay off a mortgage more quickly. Bi-weekly mortgage payments can be made or extra principal can be added to the normal monthly mortgage payment.

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Topics: +, bi-weekly mortgage payments

Should I Switch to a Bi-Weekly Mortgage?

Posted by Dan Moyle on Thu, Jul 12, 2012

Many homeowners consider switching to bi-weekly mortgage payments schedule at some point. They perceive that these payments carry some magic with them that lowers the interest expense. We do not want to discourage you but let's face it: The only magic is that of equal 13 monthly payments annually.

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Topics: +, bi-weekly mortgage payments

Bi-Weekly Mortgage Payments vs One Big Extra Yearly Payment

Posted by Dan Moyle on Thu, Jul 5, 2012

A house is one of the best and also most costly personal assets one can acquire. It is therefore only prudent to do everything possible to reduce mortgage costs. One of the best ways to do this is with bi-weekly mortgage payments.

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Topics: +, bi-weekly mortgage payments

Better Than Bi-weekly Mortgage Payments

Posted by Dan Moyle on Wed, Jun 20, 2012

Bi-weekly mortgage payments have become a favored strategy by many homeowners looking to shorten the length of their contract obligation and save some money while doing so.  The process is a fairly simple one.  Rather than making a single monthly mortgage payment, as is most typical, one arranges with their mortgage lender (a rare occurence with most lenders) to make a one-half payment every two weeks instead.

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Topics: +, bi-weekly mortgage payments

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Down payment and terms shown are for informational purposes only and are not intended as an advertisement or commitment to lend.  Please contact us for an exact quote and for more information on fees and terms.  Not all borrowers will qualify.
 
AmeriFirst Home Mortgage is a division of AmeriFirst Financial Corporation. 950 Trade Centre Way Suite 400 Kalamazoo, MI 269.324.4240 Equal housing lender
 

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Taking care of a home takes work and organization. While we can't do the work for you, hopefully this checklist helps you stay organized. Download your printable version below!

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