Mortgage Example
Beat your mortgage debt with our bi-weekly payment plan.
Mortgage
Use our bi-weekly payment plan to get out from under your mortgage debt. Pay those loans off early and save a lot of money.
Financing a home is one of the proudest moments for all of us. But the reality is that home will cost a lot of money in part due to the interest paid to the bank over 30 years.
Bi-weekly payment plans help you make 26 bi-weekly payments in a year. As a result, you make 13 monthly payments in a 12 month year. Your extra monthly payment goes straight towards the principal of the loan. And that’s how a bi-weekly plan helps pay your loan off early and save you money.
The tables below have three columns of information. The first column (Monthly) is what you save if you do not use a bi-weekly payment plan: nothing. In the second column (Bi-Weekly), you begin to see savings. Even bigger savings appear in the third column (w/Boost). All you’re doing by “Boosting” your bi-weekly payment is increasing your bi-weekly payment by a dollar amount of your choosing. As you can see, the savings with the payment boost are significant.
| Monthly | Bi-Weekly | w/Boost | |
| Loan Amount | $200,000 | $200,000 | $200,000 |
| Interest Rate | 5.9% | 5.9% | 5.9% |
| Loan Term | 360 months | 360 months | 360 months |
| Payment | $1,186 | $596 | $661 |
| Payment Boost | N/A | N/A | $65 |
| Savings at Payoff * | N/A | $62,240 | $105,805 |
| Months Saved | N/A | 5yr+3mth | 10 yrs! |
* Net service fee $399 and ACH fees.
How the bi-weekly payment plan helps with a mortgage
As you can see from the above examples, the bi-weekly payment plan is a very powerful tool: loans are paid off much earlier and a lot of money is saved. In the previous example with an auto loan, the savings are significant. Just look at how much time and money the bi-weekly payment plan can save on a mortgage—a massive amount! Paying that mortgage off early and saving all that money is life changing, and very easy to do via the bi-weekly payment plan.
Calculate how much you can save on your own mortgage
You’ve seen the examples. Aren’t you a bit more than a little curious to see how much money the bi-weekly payment plan can save you on your own mortgage? Just click here, then enter your mortgage information into the calculator. The results will impress you: early payoff and a lot of money saved!
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