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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9811 W Monte Lindo --
Peoria, AZ 85383
$1,900,000
4
Beds
3.5
Baths
3,853
SqFt
Status
Active
MLS #
6772283
Property Type
Single Family Residence
Price Type
--
Beautiful residence sitting on a desired corner lot! This resort style beauty offers a fenced grassy front yard & a welcoming courtyard. Come inside to find formal dining, wood-style flooring throughout, fire sprinklers, a gas fireplace in the living area, & 4-panel sliding pocket doors that merge perfectly the indoor/outdoor living areas giving you the resort feel. Create gourmet dishes in the eat-in kitchen showcasing SS appliances w/double ovens, quartz counters, subway backsplash, farmhouse sink, & a large breakfast bar island. The flexible den boasting double doors is perfect for an office, game area, media room, yoga studio, etc. Retreat to the split owner's suite to discover private backyard access & a lavish bathroom. Too many upgrades to list! Two vanities, a glass enclosure shower, a soaking tub, & oversized walk-in closet complete the main bathroom. You will love the Jack & Jill bathroom with a convenient dual sink vanity. Utility sink & plenty of cabinets in the laundry room! Oasis-style backyard has a sparkling blue pool & spa combo w/lovely waterfall that is the heart of the backyard, a Ramada, grass area, covered patio, & ample dog run w/pet door leading into the house. Don't miss the air conditioned 3-car sided garage, paver driveway for extra parking, & RV gate. This home combines comfort & elegance. Seize this opportunity!
51414 W Pete Road
Aguila, AZ 85320
$1,900,000
3
Beds
3.5
Baths
6,556
SqFt
Status
Active
MLS #
6659027
Property Type
Single Family Residence
Price Type
--
This magnificent Property offers Hacienda Style Architecture reminiscent of Spanish Living plus a 52' x 80' Hangar with Pilot's Lounge. Chef's Kitchen boasts Wolfe Range, Kol-Gard Commercial Refrigerator, Traditional & Baker's Islands, Conversation Counter & Separate walk-in Server's Pantry. Complete with Formal Dining Room, Great Room Dance Floor, Wet Bar, Spa, Atrium, multiple Fireplaces, Den & Office, it's ideal for personal Luxury or Entertaining. The spacious Primary Suite features multiple Bath areas, Large walk-in Closet & Sitting Room. Guest Rooms have Private Exits. Enjoy Outdoor Living on the Covered Patio. The 52' x 80' Hangar features Pilots' Lounge, Shop, Storage Room & Sunshade Port. Propane & Diesel Fuel Tanks plus RV parking add to the convenience of Airpark living. Property is on 5 acres with Private Well, Well House & Detached Garage in a Gated Airpark with HOA & CCR's. State Land across the street to the South. Community has a 3,906' paved, lighted runway, paved taxiways/streets & community center for great gatherings. See Document Tab for Additional Features. THIS IS AN ACTIVE AIRPARK. PLEASE YIELD TO PLANES. DO NOT CROSS, DRIVE OR WALK DOWN RUNWAY.
7220 N 185th Avenue
Waddell, AZ 85355
$1,900,000
3
Beds
2
Baths
1,000
SqFt
Status
Active
MLS #
6691951
Property Type
Single Family Residence
Price Type
--
Here's your chance to one a piece of Waddell history...the iconic LITTLE KENTUCKY! Equestrians, trainers, breeders, this is the property you have been looking for. Offering an impressive 140 x 250 covered arena, 3 enclosed barns offering 16x16 stalls fully trimmed out with high pressure mister systems, water and electric, the large barn also offers a workshop shop and trainers office with kitchenette area, there is an additional 4 stall shed row offering 12x 32 stalls, 60' trainers round pen, hot walker, covered hay storage, several tack and storage areas, wash rack,. multiple pastures, exercise track, 32 stalls in total and not to mention the very comfortable and nicely appointed 3 bedroom apartment AND ASK US ABOUT THE POSSIBILITY OF PURCHASING THE MAIN HOME AND ADDTIONAL 4 ACRES!!!
18610 W Porter Drive Unit 93
Goodyear, AZ 85338
$1,900,000
3
Beds
3.5
Baths
4,122
SqFt
Status
Active
MLS #
6779817
Property Type
Single Family Residence
Price Type
--
Welcome to this 2021 custom-built, luxury home in Estrella Mountain Ranch. Designed for energy efficiency with ICF construction, it boasts a main house featuring 2 beds, 2.5 baths, a chef's kitchen with butler pantry, & a state-of-the-art-theater. An 811 sf. casita offers additional private quarters with a bedroom, kitchen and bathroom. Enjoy Arizona's indoor-outdoor lifestyle with an enclosed outdoor kitchen that extends to a large patio, fire pit, fountains, privacy & tranquility. Built with structural integrity & energy-efficiecy, this home provides durability & low operating costs. Additional features include a 7kW solar system, 4-car garage, advanced security, and proximity to South Lake, Estrella Golf Club, Phoenix Raceway, and MLB Spring Training. A must-see to believe! This property is situated on a corner street, a cul-de-sac designed for privacy, security, and low maintenance. It provides outstanding 3G durability and resilience and low ongoing operating costs. ICF Construction (Integrated Concrete Forms) provides high energy efficiency and reduces fire risks and other natural disasters. 29 truckloads of concrete were poured inside 6- and 12-inch-thick blocks from 10 to 16 feet in height without thermal breaks or energy escapes. The HVAC system was designed to optimize the ICF construction and uses high-efficiency Daiken mini-splits with very high SEER ratings. Fire sprinkler system throughout the entire house, including garages. 4.5 spray foam insulation cathedral application on all roof lines. Windows and Patio doors are 100% Fibrex® composite material with superior strength and performance. Wired and wireless security systems designed with four levels of redundant protection video and audio utilizing 16 cameras managed on the Cloud and owned internal server by UniFi Dream Machine professional gateway with 3 Wi-Fi points providing 360-degree property coverage. State-of-the-art, Custom-Designed 3D audio and Dolby 7.2.8 Home Theater System with 19 speakers and custom Acoustics; video system includes 4K Dual Laser Projector and 135-inch Wall Screen (66x118). 7kW 20 Solar Panel system provides from 11k to 14k annual kW Hours. Integrated battery backup power: 6 cells provide 18kWh, capable of powering a 200-amp circuit in the main living area, including HVAC. A 10 to 25-year warranty is conveyable to the new owner. Automated whole house wi-fi Water-Valve monitoring system 24x7. Automated internal patio and landscape lighting system integrated with photocell for security and enhanced the property's beauty. Located on a hillside with views, and to maximize privacy on a .85-acre lot.
4502 E Calle Tuberia --
Phoenix, AZ 85018
$1,900,000
4
Beds
3
Baths
1,953
SqFt
Status
Active
MLS #
6716154
Property Type
Single Family Residence
Price Type
--
Welcome to this gorgeous oasis in the heart of Arcadia! Nestled on a generous .24-acre lot, this 4-bedroom, 3-bathroom home offers amazing views of Camelback Mountain. Step into the backyard and discover the lush landscaping creating a serene backdrop for outdoor gatherings and al fresco dining. The sparkling pool begs you to take a refreshing dip on hot summer days, while the meticulously manicured gardens offer a peaceful sanctuary for quiet reflection. With new A/C units and fresh exterior paint, this home is not only a feast for the senses but also a practical investment in your future. Don't miss this rare opportunity to own a piece of paradise in Arcadia.
6407 E Old Paint Trail
Carefree, AZ 85377
$1,900,000
3
Beds
3.5
Baths
4,339
SqFt
Status
Active
MLS #
6772625
Property Type
Single Family Residence
Price Type
--
Discover a tranquil oasis on nearly 2 acres in the prestigious gated community of Black Mountain Foothills. This 4,339 SqFt estate boasts a single-level, split floor plan with 3 bedrooms, a spacious office, and 3.5 baths. Enjoy the serene Sonoran Desert landscape, complemented by spectacular mountain vistas, dazzling sunsets, and unobstructed city light views. Unique floor-to-ceiling glass wall corners seamlessly blend the interior with an expansive covered patio, pool, and spa, all surrounded by mature desert landscape. The home features soaring 18' ceilings, an enormous Principal Suite with a fireplace and large bathroom, and a beautiful formal Dining Room perfect for entertaining. The well-appointed Kitchen includes a huge walk-in pantry, island, breakfast counter, and ... informal dining area that opens to a large Family Room. Additional amenities include a 3-car garage with 2 EV chargers, an air-conditioned exercise room, and indoor-outdoor speakers. Every window offers a view, enhancing the peaceful and private atmosphere of this luxurious estate.
1804 E Senna Point
Payson, AZ 85541
$1,900,000
3
Beds
4
Baths
3,606
SqFt
Status
Active
MLS #
6748495
Property Type
Single Family Residence
Price Type
--
Stunning new WTM Construction home located in the prestigious gated golf community of Chaparral Pines awaits you. This beauty is completed and displays an elegant masterpiece that this builder creates including 2X6 exterior walls, spray foam insulation, concrete fiber siding, Windsor Pinnacle Series Wood Clad windows, and a 50-year GAF Roof. This single level, open split floor plan home sits on a large lot backing to 2 water ponds with a waterfall and is not to be missed. Starting with a grand front entry to the great room is a wall of windows to capture the views where you will notice a stone ceiling to floor gas fireplace highlighted by a beamed ceiling bringing it all together. Kitchen boasts SS Wolfe Subzero appliances such as a 48'' refrigerator, 48'' gas cooktop, built in oven and microwave, Sollid Brand soft close doors/drawers done in Shaker White style with black hardware, upgraded granite throughout, farm sink, an oversized kitchen island and breakfast nook which make it truly a chef's delight. Separate study/office with barn doors also has a beamed ceiling and can be a multi purpose room. Primary bedroom is a dream with a beamed ceiling and exterior doors to the back patio. Bath has dual vanities with large mirrors, walk through shower, 2 closets, and a free standing tub highlighted by a Chandelier. Guest bedrooms are both ensuites with large walk in showers and closets. Garage is oversized and can hold an RV/Boat and has epoxy floor finish and leads into a mud room/breezeway for added convenience. Flooring is all engineered wood with tile in all the wet areas. Large driveway and all patios are done in pavers. Too much to mention! Come experience this amazing build.
3353 S Tourmaline Drive
Flagstaff, AZ 86005
$1,900,000
3
Beds
3.5
Baths
2,720
SqFt
Status
Active
MLS #
6757489
Property Type
Single Family Residence
Price Type
--
Welcome to your dream home in the prestigious Pine Canyon Golf Course community of Flagstaff, Arizona! This beautifully maintained 3-bedroom, 3.5-bathroom residence offers 2,720 square feet of luxurious living space, perfect for those seeking both comfort and elegance. Step inside to discover a freshly painted interior and exterior, along with updated lighting fixtures that complement the home's warm, mountain-inspired design. The main floor features a spacious primary bedroom, providing convenience and privacy, along with a second bedroom ideal for guests or family. The heart of the home is the open-concept living area, where vaulted ceilings and a cozy fireplace create a welcoming ambiance. Welcome to your dream home in the prestigious Pine Canyon Golf Course community of Flagstaff, Arizona! This beautifully maintained 3-bedroom, 3.5-bathroom residence offers 2,720 square feet of luxurious living space, perfect for those seeking both comfort and elegance. Step inside to discover a freshly painted interior and exterior, along with updated lighting fixtures that complement the home's warm, mountain-inspired design. The main floor features a spacious primary bedroom, providing convenience and privacy, along with a second bedroom ideal for guests or family. The heart of the home is the open-concept living area, where vaulted ceilings and a cozy fireplace create a welcoming ambiance. Large windows frame stunning forest views, allowing you to fully immerse yourself in the natural beauty that surrounds you. Venture upstairs to find a versatile loft area, perfect for a home office or entertainment space, leading to a secondary primary suite. This upstairs retreat ensures everyone has their own sanctuary within the home. Situated in a peaceful cul-de-sac, this home boasts updated landscaping and a wrap-around deck, perfect for enjoying the picturesque Flagstaff outdoors. Additionally, the property features a fenced dog run, providing a safe and convenient space for your furry friends. Enjoy the close proximity to the community's top-notch amenities, including the clubhouse, dog park, and kids park, making it easy to embrace an active and social lifestyle. Don't miss your chance to own this exquisite home in Pine Canyon, where luxury living meets the beauty of nature. Schedule a tour today and experience the unparalleled lifestyle that awaits you in Flagstaff!
2800 E Portola Valley Drive
Gilbert, AZ 85297
$1,900,000
5
Beds
4.5
Baths
4,067
SqFt
Status
Active
MLS #
6763587
Property Type
Single Family Residence
Price Type
--
This stunning single-level home, built in 2022 and located in the highly sought-after Belmont at Somerset community, was crafted by the prestigious Blandford Homes. Spanning 4,067 sq ft, this 5 bed, 4.5 bath plus den & 4 car garge showcases soaring 12 ft ceilings, an abundance of natural light, and modern finishes throughout. The home features beautiful wood-look tile flooring, sleek quartz countertops, a gourmet kitchen with a natural stone backsplash, walk-in pantry, stainless steel appliances, and a striking wood beam ceiling. Designer lighting, ceiling fan fixtures and custom motorized Hunter Douglas window treatments add elegance throughout the space. The expansive primary suite includes a luxurious soaking tub, lighted floating cabinets, and a spacious walk-in closet. Step outside to an entertainer's dream backyard, complete with travertine pavers, low-maintenance artificial turf, a cozy fire pit with seating area, and a large removable fenced-in pool perfect for both relaxation and family fun. Beautifully situated near the vibrant San Tan Village, this home offers unparalleled convenience with easy access to premier shopping, dining, and entertainment options just minutes away. Located in a highly sought-after neighborhood, you're close to top-rated schools, parks, and recreational facilities. Quick access to the 202 freeway makes commuting a breeze, putting the rest of the Valley at your fingertips. Whether you're looking to enjoy the nearby golf courses, explore local hiking trails, or experience the lively community events, this location has it all. Don't miss the opportunity to experience this exceptional Gilbert home!
14500 N Centennial Drive
Prescott, AZ 86305
$1,900,000
3
Beds
4
Baths
3,288
SqFt
Status
Active
MLS #
6774674
Property Type
Single Family Residence
Price Type
--
This exquisite modern ranch-style masterpiece is being built on a premium 1.02 acre lot# 56. Nestled amidst the serene Boulders - natural trees, ensuring privacy and tranquility for its owner. The Buyer will have the opportunity to handpick every finish, thanks to the generous Allowance package added, ensuring a truly personalized living experience that perfectly matches your unique style. The spacious single level home is 3288 SF with a 3 car RV/ Workshop garage. The open-concept design of this home offers a sprawling great room and a gourmet kitchen. The home is being built by Approved Talking Rock Home Builder known for his attention to detail and is a joy to work with.
25231 S 194th Street
Queen Creek, AZ 85142
$1,900,000
5
Beds
5
Baths
4,452
SqFt
Status
Active
MLS #
6784395
Property Type
Single Family Residence
Price Type
--
Prepare to be amazed! This stunning 5-bed, 5-bath home, thoughtfully designed by a professional interior designer, blends luxury and functionality. Custom wall trimwork and designer lighting flow throughout, creating an elevated ambiance. The living room features a marble-surrounded fireplace and a 20-foot glass slider wall for seamless indoor-outdoor living. The gourmet kitchen includes quartz countertops, a quartz slab backsplash, double islands, and a beverage center. High-end appliances include a 48'' gas range with a pot filler and a Frigidaire refrigerator/freezer with filtered water and ice. A walk-in pantry and an eat-in nook complete the space. The mudroom adds convenience with enclosed storage, a drop zone, and an Elkay water bottle filler. Lastly, the backyard includes a covered patio and extended seating area where you can spend quality time w/friends & loved ones! Hurry, act now!
40072 N 110th Place
Scottsdale, AZ 85262
$1,900,000
3
Beds
3
Baths
2,393
SqFt
Status
Active Under Contract
MLS #
6737304
Property Type
Townhouse
Price Type
--
Apache Cottage in a fantastic location!!! Overlooking the 9th fairway of the Apache golf course offering wonderful mountain, sunset, and city light views! This comes fully furnished with everything you can think of all on one level. It is the perfect desert retreat just steps away from the community pool and a short walk to the fabulous Apache Clubhouse!'' MEMBERSHIP AVAILABLE to be purchased with this property. A 30-day Membership application review and approval is required. Contact the Desert Mountain Club for details.