Quote:
Originally Posted by GGG
This really doesn’t knock a meaningful amount of time off your mortgage. In a constant payment per month scenario the difference in payment frequency has little affect
If you switch to biweekly and pay at 1/2 the monthly rate or pay biweekly at the semi monthly rate you pay it off sooner but that’s because you are paying 13/12ths more not because of the payment frequency.
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It’s another payment that you wouldn’t have made otherwise and every little amount is significant, more so for anyone having difficulty budgeting.