By paying half of your mortgage every two weeks you will make the equivalent of one extra payment ($1,092) toward principal over the course of a year or an extra half payment every six months. This strategy could save you $4 in interest and you will own your home in -0.5 years rather than the remaining scheduled -0.5 years.<ul><li><a href="home-affordability">How much home can I afford?</a></li><li><a href="refinance-calculator">Should I refinance my mortgage?</a></li><li><a href="mortgage-calculator">Mortgage calculator</a></li><li><a href="hom04">Comparing mortgage terms (i.e. 15, 20, 30 year)</a></li><li><a href="hom05">Should I pay discount points for a lower interest rate?</a></li><li><a href="rent-vs-buy-home">Should I rent or buy a home?</a></li><li><a href="should-i-convert-to-a-bi-weekly-payment-schedule">Should I convert to a bi-weekly payment schedule?</a></li><li><a href="hom08">Compare a 'no-cost' vs. traditional mortgage</a></li><li><a href="hom09">What are the tax savings generated by my mortgage?</a></li><li><a href="fixed-or-adjustable-rate-mortgage">Which is better, fixed or adjustable-rate mortgage?</a></li><li><a href="adjustable-rate-mortgage-calculator">Adjustable rate mortgage calculator</a></li><li><a href="hom12">How do closing costs impact the interest rate?</a></li><li><a href="hom13">Compare an interest-only vs. traditional mortgage</a></li><li><a href="how-much-can-i-borrow-from-my-home-equity-heloc">How much can I borrow from my home equity (HELOC)?</a></li><li><a href="loan-comparison-calculator">Loan Comparison Calculator</a></li></ul> <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='0' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Loan Balance Comparison' xAxisName='Year' numberPrefix='$' bgColor='FFFFFF' showBorder='0' canvasBgColor='ffffff' showAlternateHGridColor='0' plotGradientColor='' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories /><dataset seriesName='Traditional' color='0B9191' /><dataset seriesName='Bi-Weekly' color='F58127' /></chart>"); // --> </script> <table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Year</th><th scope="col">Beginning Balance</th><th scope="col">Interest</th><th scope="col">Payment</th><th scope="col">Ending Balance</th></tr></table>&nbsp;&nbsp;<span style="padding-bottom:2px;background-color:#eee;border-bottom:1px dotted;border-top:1px dotted;"><span style="color:#81A41E;font-size:100%;font-weight:700;">&nbsp;<a href="https://forms.insuredstreet.com/MXForms/Forms/HomeFramed?aid=cd14185&afftrack=hom07&affsub=hom" target="_PP_WINDOW">INSTANT HOME OWNERS INSURANCE QUOTES</a></span> <span style="color:#000;font-size:100%;font-weight:normal;">&ndash; <a href="https://forms.insuredstreet.com/MXForms/Forms/HomeFramed?aid=cd14185&afftrack=hom07&affsub=hom" target="_PP_WINDOW">Affordable Rates - click here</a></span>&nbsp;&nbsp;</span>