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Biweekly mortgage loan |
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Biweekly mortgage loanA mortgage whereby the borrower makes a half monthly payment every two weeks instead of the usual 12 monthly payments. This arrangement results in 26 half monthly payments per year and a significant reduction in interest since an extra monthly payment is made.Similar MatchesBiweekly mortgageBiweekly mortgageA mortgage that requires payments every two weeks and helps repay the loan over a shorter term. BiweeklyBiweeklyAlso known as accelerated mortgages. Biweeklies reduce interest expense and build home equity faster than monthly payments. |
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