Paying a bi-weekly mortgage payment instead of monthly on a $500,000 loan at 7% interest can save over $150,000 in interest and pay off the mortgage 6.5 years faster.
"if you take a monthly mortgage payment $ 3,226 a month and you divide it by two which is $1,632 and now instead of paying monthly you paid bi-weekly meaning every 2 weeks so now you pay $1,632 every 2 weeks instead of paying $700,000 in interest on your mortgage you're only going to have to pay $528,000 in interest on your mortgage which means you get to keep more than $150,000 in your pocket over the course of your mortgage but that's not all with this method you're also going to be able to shave off about 6 and A2 years of time paying down your mortgage"
