Most homeowners look at their monthly mortgage payment as their largest cost per month, and something they must do to maintain a good credit history. However, you may have heard of bi-weekly mortgage payments and their ability to lower your debt load and help you pay off your mortgage more quickly. If you’re wondering if bi-weekly payments are too good to be true, here’s some information worth consideration.
What Difference Does Bi-Weekly Make?
Making a bi-weekly mortgage payment may seem to mean that your interest will be automatically reduced, but because the lender is not necessarily receiving that payment until the end of the month, this is not necessarily the case. However, while a typical monthly payment will equate to 12 mortgage payments per year, a bi-weekly payment means 26 half payments will be made each year, which equates to 13 months of payments and an additional month. As a result, this can reduce the amount of interest paid on the principal.
Consider More On A Monthly Basis
Bi-weekly payments have the ability to shave a bit off the principal and thereby lower overall interest, but that doesn’t mean you have to switch to paying every two weeks. Instead of bi-weekly, consider dividing your monthly mortgage amount by 12 and adding that amount to your monthly payment. This will bump up your mortgage cost per month, but it will also reduce the total amount you owe. For example, if your mortgage payment is $1200 per month, divide it by 12 to get $100, and add this to your payment, bumping it up to $1300 each month.
Be Aware Of The Options That Work For You
In the event that you decide to make bi-weekly payments, be aware that there may actually be additional fees associated with this offering that will nullify your money savings. As a homeowner, it’s important to stay aware of changes on the market and new mortgage offerings that can benefit you. However, it’s also important to ensure that whatever you choose, you’re aware of the risks involved so they can make for a positive financial shift.
Making a bi-weekly payment on your mortgage may have the benefit of lowering your overall home cost, but you may be able to get this benefit from simply bumping up your monthly payment.
For more tips on reducing your mortgage debt, give me a call – J.P. Cook – 602-320-4253.
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13607 N 87th Street
Scottsdale, AZ 85260
$2,000,000
4
Beds
3.5
Baths
4,491
SqFt
Status
Active
MLS #
6784063
Property Type
Single Family Residence
Price Type
--
This beautifully remodeled home in the heart of Scottsdale offers an impeccable blend of style, comfort, and convenience. Boasting 4 spacious bedrooms, plus a den, and 3.5 bathrooms, this 4,491-square-foot residence provides ample room for both relaxation and entertainment. As you step inside, you're immediately greeted by an inviting atmosphere and a massive wall of glass overlooking the backyard. The heart of the home is the recently renovated kitchen, a true culinary enthusiast's dream. Featuring custom cabnetry, high-end Viking appliances, stunning leathered Taj Mahal Quartz countertops, a chic backsplash, and a spacious walk-in pantry This kitchen is perfect for hosting family dinners or entertaining guests. Each of the four bedrooms is designed to provide a personal sanctuary. Generously sized, they each come with a walk-in closet for added convenience. The expansive master suite offers a tranquil retreat, providing the ideal place to unwind at the end of a busy day. The adjoining master bathroom is a spa-like oasis with luxurious finishes, while the master wardrobe closet will exceed your expectations with built-in shelving and an abundance of storage space. The backyard is an entertainer's dream, offering an outdoor oasis where you can bask in the Arizona sun. With a heated pool, spa, and a custom water feature as the focal points. This outdoor space is perfect for enjoying warm Arizona evenings or hosting summer barbecues. Upgraded travertine and lush turf surround the pool area, creating a serene and low-maintenance landscape ideal for both relaxation and recreation. Located in a desirable Scottsdale neighborhood, this home offers the best of both worlds: peace and privacy, yet with all the conveniences of city living. Northsight Park is just a short stroll away, offering a perfect spot for morning jogs or leisurely weekend picnics. Major shopping centers, dining options, and essential services are all within a mile, making day-to-day living a breeze. The area also boasts a wide range of amenities and attractions, ensuring there's always something to do nearby. With its spacious, thoughtfully designed interior, exquisite renovations, and prime location, this home is more than just a place to live, It's a lifestyle. Whether you're raising a family, working from home, or simply seeking a beautiful, high-end space to call your own, this Scottsdale gem checks every box. Don't miss the opportunity to make this extraordinary property your forever home.
2402 E Esplanade Lane Unit 602
Phoenix, AZ 85016
$2,000,000
2
Beds
3
Baths
3,542
SqFt
Status
Active
MLS #
6652382
Property Type
Apartment
Price Type
--
Urban hi-rise living at its best! This updated spacious condo sits on the 6th floor w/ impressive views of Downtown city lights, spectacular sunsets & mountain vistas. The circular wall of glass (w/ motor shades) creates a dramatic light-filled space. Interior finishes include hardwood & stone floors, sleek cabinets, designer lighting & beautiful tilework. The split floorplan offers a spacious secondary bedroom suite, a very large & sophisticated second primary closet & a family room designed for gracious entertaining or view-soaked relaxation. The full-service building provides valet parking, concierge services, a stunning rooftop pool & spa, an impressive gym, a gorgeous club room & EV charging stations. Walking distance to Biltmore shopping and eateries and easy access to Downtown Phx
4828 E Clearwater Parkway
Paradise Valley, AZ 85253
$2,000,000
4
Beds
3.5
Baths
3,915
SqFt
Status
Active
MLS #
6711236
Property Type
Single Family Residence
Price Type
--
Opportunity awaits in the Guard-Gated Clearwater Hills community of Paradise Valley. This single-level gated home sits majestically on just under one acre of prime, buildable land, offering privacy and breathtaking panoramic views of Camelback, Phoenix Mountain Preserve, and Mummy Mountains. The spacious floor plan offers an effortless flow between living, dining, and entertaining areas. Spacious Primary Suite with his and her bathrooms, and expansive closet. Three other bedrooms plus a bonus/game room. Easy access to world-class golf courses, fine dining, upscale shopping, hiking trails, and cultural attractions. and minutes away from the vibrant amenities of Scottsdale and downtown Phoenix.
9490 E Trailside View
Scottsdale, AZ 85255
$2,000,000
5
Beds
3
Baths
3,560
SqFt
Status
Active
MLS #
6773638
Property Type
Single Family Residence
Price Type
--
Introducing an exquisite new luxury real estate listing in the heart of DC Ranch, Scottsdale, masterfully designed by the renowned London Pierce Design. This stunning residence embodies sophistication and elegance, offering an unparalleled living experience. The home features five spacious bedrooms and three full bathrooms, catering to all your family's needs. The gourmet kitchen is a chef's dream, boasting a custom double marble island and table, two dishwashers, a marble backsplash, a custom marble bar, an induction oven, and a large double refrigerator. The living spaces are adorned with light beach-colored real wood floors and custom lighting with LED features on the island and cabinets. The custom glass and LED light staircase is a striking centerpiece. The living spaces are adorned with light beach-colored real wood floors and custom lighting with LED features on the island and cabinets. The custom glass and LED light staircase is a striking centerpiece, complemented by a crushed glass chandelier in the main living area. The main suite is a true retreat, featuring a large ensuite bath with a full glass shower and tub enhanced with LED accents and marble design. The huge walk-in closet provides ample storage for all your wardrobe needs. Throughout the home, you'll find custom wallpaper and paneling, as well as marbled countertops in the laundry room and all bathrooms, adding to the luxurious feel. Outdoor living is equally impressive with a courtyard perfect for intimate evenings, a walk balcony offering breathtaking mountain views, and a luxurious waterfall pool with new landscaping. A 16-foot sliding glass door opens up to the ultimate destination, seamlessly blending indoor and outdoor living. This residence is not just a home; it's a statement of luxury and modern design. Perfect for those who appreciate the finer things in life, this property epitomizes elegance and comfort in one of Scottsdale's most sought-after communities. Recent appraisal of 2,185,000 Brand new Furniture is also for sale co-Listing Agent is related to Owner.
6021 E Calle Rosa --
Scottsdale, AZ 85251
$2,000,000
4
Beds
3
Baths
2,972
SqFt
Status
Active Under Contract
MLS #
6758870
Property Type
Single Family Residence
Price Type
--
Charming Arcadia proper ranch! Located in the Hopi district, this 4 bedroom, 3 bathroom home has the perfect blank canvas for your family. Greeted by the front yard's green grass and mature landscaping, home features great room with fireplace, formal dining, and open concept kitchen and living room with fireplace and access to the backyard. Chef's kitchen includes stainless steel appliances, multiple ovens, wine fridge, and eat-in kitchen with additional fireplace. Primary suite includes reading nook, dual sinks, enclosed toilet, oversized shower, and walk-in closet. Additional features include 2-car garage and architect draft of potential renovation plans. Backyard is perfect for entertaining with the custom pool with expanded pool deck, putting green, covered patio, and privacy created by citrus trees and bushes. Walk or bike on the canal or drive minutes to reach Phoenix's top resorts, golf, hiking, dining, and shopping.
4601 E Desert Cove Avenue
Phoenix, AZ 85028
$2,000,000
4
Beds
2.5
Baths
2,916
SqFt
Status
Active
MLS #
6689750
Property Type
Single Family Residence
Price Type
--
SUPER RARE OPPORTUNITY! 5 SEPARATE GARAGES ON THE PROPERTY TOTALING 6168 sq. ft of garages. 3 garages are air conditioned & one comes with 2 lifts. There are 20 total garage spaces for this one-of-a-kind property. Can easily transform the 1620 sq. ft. garage into an awesome guest house.Multiple RV gates & RV Covered Parking. NO HOA. Owned Solar. 3 Horse stalls. 1.1 ACRES that is in one of the single best neighborhoods in all of Phoenix. Morningside Plus is an outstanding community that regularly has events with the neighbors.The walkability score is 11 out of 10 with Trader Joe's, Fry's Signature Store, Ohso, Starbucks & so much more right down the street. Conveniently located minutes from the 51 freeway, PV Mall Reinvention area & Trail 100 for amazing hiking. FAMILY COMPOUND POSSIBILITY
13017 N 61st Place
Scottsdale, AZ 85254
$1,999,999
6
Beds
5
Baths
4,682
SqFt
Status
Active
MLS #
6743125
Property Type
Single Family Residence
Price Type
--
Priced below its 2024 appraised value of $2.3M, this Scottsdale gem is a must-see for those seeking a blend of functionality, style, and opportunity. Ideal for multigenerational living or savvy investors, this property offers a unique array of separate spaces perfect for family, friends, or even rental potential. Tucked away in a serene cul-de-sac, this home seamlessly merges indoor and outdoor living. The main house, with its 3 bedrooms and 2 bathrooms spread across 2,328 square feet, features a stunning kitchen with a gas stove and distinctive cabinetry, offering ample storage and a touch of elegance. Attached to the main house is a versatile 604-square-foot studio. Plus, you'll find a charming 1-bedroom, 1-bathroom, 849-square-foot casita separate from the main house. This property also features a generous 1,750-square-foot loft-style guest quarters, complete with a full kitchen, bathroom, and laundry facilities, providing versatile living options. Additionally, a 368-square-foot workshop with a car lift and a 288-square-foot utility room offer ample storage and workspace for all your needs. Outdoor living is exceptional here, with a pebble-tech pool, a 416-square-foot gazebo, and a built-in outdoor fireplace, making it ideal for entertaining and relaxing with family and friends. The expansive 35,000-square-foot lotone of the largest in the neighborhoodboasts lush desert landscaping and abundant shade trees. Situated in a prime location, you're just a short walk from local parks and schools, and a quick drive from the vibrant shopping and dining experiences at Kierland, Scottsdale Quarter, Topgolf, and Spring Training venues.
3105 E Fruitvale Court
Gilbert, AZ 85297
$1,999,999
5
Beds
4.5
Baths
5,626
SqFt
Status
Active
MLS #
6776940
Property Type
Single Family Residence
Price Type
--
Welcome to Weston Ranch, an Exclusive Gated Community in Gilbert. This Stunning Property Sits on a Private Cul-De--Sac lot, Gated Courtyard Entry. Spacious 5 bd/4.5 ba Layout with a Split Floor Plan, a Versatile Bonus Room, & Separate Casita Featuring its Own Living Area, Kitchen, & Full Bath, Perfect for Guests or Multigenerational Living. An Open Kitchen, with a Large Island, Granite Counters, Double Ovens, & Gas Cooktop. Gas Fireplace in the Living Room,, Oversized Owner's Suite, Complete with a Sitting Area, Patio Exit. Step outside to your resort-style backyard: Pavered Walkways Lead you to a Pebble-Tec Pool with Waterfall and Jacuzzi, a Built-in BBQ, Outdoor Kitchen, Gas Firepit & Sport Court. RV Gate, 4 Car Garage w/ Built-In Cabinets, EV Charging, Owned Solar & New Roof 2024.
8322 E Kael Street
Mesa, AZ 85207
$1,999,999
5
Beds
4
Baths
5,180
SqFt
Status
Active
MLS #
6776138
Property Type
Single Family Residence
Price Type
--
Fantastic basement home with an OVERSIZED RV GARAGE in Savona. The basement offers three bedrooms, two full bathrooms and a great media room. The main floor has a beautiful gourmet kitchen with stainless steel appliances, granite countertops, two islands, two sinks, wine cooler, pantry and perfect views to the entertainers back yard and mountains. The gorgeous backyard includes a pebble sheen pool & spa with a rock waterfall, built in water slide, fire pits and an outdoor shower. The oversized misted patio is large enough for those family gatherings. The view of the city lights and mountains from the observation deck are stunning. The RV garage is perfect for storing your RV or boat for those trips to the nearby lakes and hiking trails. Near fine dining, Las Sendas golf and 202 freeway.
6620 E Flat Iron Loop
Gold Canyon, AZ 85118
$1,999,999
3
Beds
2.5
Baths
3,200
SqFt
Status
Active
MLS #
6581879
Property Type
Single Family Residence
Price Type
--
Indulge in the epitome of luxury this Fall with your own private sanctuary nestled against the awe-inspiring Superstition Mountains. Awaken each day to uninterrupted, breathtaking vistas, and immerse yourself in a custom-crafted homesite designed to exceed your highest expectations. This isn't merely about constructing a dream home—it's an invitation to embrace a lifestyle defined by opulence, exclusivity, and peace. Meander through the prestigious, guard-gated community and let the serene ambiance envelop you. With homes reaching up to $2.5M, you'll enjoy an ideal blend of seclusion and accessibility. Yet, the true allure lies within the community itself. As a distinguished resident, you gain membership to the elite Superstition Mountain Club, featuring two private golf courses As a distinguished resident, you gain membership to the elite Superstition Mountain Club, featuring two private golf courses masterfully designed by Nicklaus. For those seeking relaxation, an outdoor pool and jacuzzi, and a state-of-the-art gym offering exercise classes, are at your service. Engage with your neighbors during the community's year-round events or enjoy a quiet evening at the exclusive clubhouse restaurant and cocktail lounge, indulging in exquisite cuisine and raising a toast to another impeccable day in paradise. Secure your own piece of heaven at the base of the majestic Superstition Mountains today and step into a world where every day is a masterpiece.
30989 N 77th Way
Scottsdale, AZ 85266
$1,999,999
3
Beds
3.5
Baths
4,143
SqFt
Status
Active
MLS #
6713596
Property Type
Single Family Residence
Price Type
--
This stunning home spans over 4100 sq ft, offering ample space for luxury high desert living. With 3 bedrooms +den and 3.5 baths, it provides the perfect retreat for a family or individuals seeking a spacious living environment. Recently remodeled, this home features high end 'wood like' tile flooring throughout, giving it a modern and elegant aesthetic. The kitchen is adorned with beautiful quartz countertops and equipped with Wolf stainless steel appliances and a Sub-zero refrigerator. The primary bedroom is oversized, offering enough space for a seating area and more. The bathroom has been remodeled, offering a luxurious and serene space for relaxation. There is a large walk-in closet off of the bathroom, with custom built-ins; in addition, there are 2 other closets in the main bedroom The home includes a 3-car garage equipped with a mini split AC. Additionally, the home has a beautiful pool that was just updated with new tile and pebble tech, the pool decking was all re-coated as well. In addition to there is also a hot tub, gas firepit (with seating area), and built in BBQ, this backyard is a beautiful oasis! The home also benefits from a newer roof and AC unit, ensuring comfort and peace of mind. Situated on a corner lot, this home offers picturesque mountain views, creating a serene and tranquil atmosphere. With all of its impressive features and recent upgrades, this home is a must see!!
26827 N 68th Street
Scottsdale, AZ 85266
$1,999,999
5
Beds
5
Baths
4,383
SqFt
Status
Active
MLS #
6640376
Property Type
Single Family Residence
Price Type
--
CONTEMPORARY TENNIS COURT ESTATE~! Acre+ with guest house. A private paradise awaits you via a long curved driveway. Enjoy your lighted tennis court, sheltered amidst shade trees, mature cacti, flowering shrubs. This masterpiece is built to last with Integra Block, I-Beam & Post Tension Concrete. Dual living floorplan is connected by an upper level view skywalk & overlooks the heart shaped pool. Wood/tile/concrete flooring. All bedrooms have walk-in closets & upper deck access. Cute guest house with mini-kitchen & 3/4 bath. Office, Library wall, Media room, home gym w/shower. Soaring wood ceilings in great room Double Island kitchen w/sleek gray quartz counters, stainless appliances, tall wine cooler, W/I pantry. 2 story exterior metal fireplace. Ramada w/BBQ, pvt Garden. NO HOA FEES~!