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Monthly, Bi-weekly or Weekly payments?

A lot of the mortgages have an option for you to make payments on a monthly, weekly or bi-weekly basis. A more frequent payment option may be more desirable for two reasons. Firstly, it can save you money as you can expect to pay off your mortgage about 4 years sooner because the payments cut into the principal amount more frequently. This can save you a lot of money over the life of your mortgage. Secondly, if your employer pays you on a weekly or bi-weekly basis, you can budget better by arranging the payments align with your pay period.