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Mortgage Professor about extra mortgage payment: | |||||||||||||||||||||||
Mortgage Prepayment by Doubling Principal
20 September 2004 "I have been advised that I can cut the life of my mortgage in half by making an extra payment to principal each month equal to that month?s principal payment. Is this true?" I have been asked this question many times and have always answered it in ... more... Simple Interest on a Biweekly Mortgage October 21, 2002, Revised January 13, 2003 "How much more valuable is a simple-interest biweekly mortgage than a standard biweekly?" Not much. On a standard biweekly (SBW), borrowers pay half the monthly payment every two weeks. Over the course of a year, they make 26 half ... more... |
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extra mortgage payment related definitions |
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Variable Rate Mortgage
Variable Rate Mortgage The variable rate mortgage, affectionately know as Adjusatuble rate mortgage or ARM is a mortgage with a rate that will adjust over time. You may be familiar with the term three year ARM, or five-year ARM. ... more... Bi-Weekly Mortgage Bi-Weekly Mortgage A mortgage which requires 1/2 the normal monthly payment every two weeks. Over the course of the year, 26 half payments are made which is equivalent to 13 full mortgage payments. As a result of this extra ... more... |
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More about extra mortgage payment Biweekly Mortgage Mortgage Free In 15 Years! Following Conventional Wisdom Could Cause This Fatal Million Dollar Mistake Save Money on Your Mortgage Loan How Can You Save Money When It Comes to a Mortgage? Mortgage 101: First Time Home Buyers Must Read! Are Biweekly Mortgages Really Worthwhile? Should You Pay Off Your Mortgage Early? Little Known Secret: Eliminate your Mortgage in 23 years or less! Why Refinance Back into a 30-Year Loan?
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