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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5400 E Valle Vista Road Unit 6
Phoenix, AZ 85018
$6,950,000
5
Beds
6.5
Baths
10,519
SqFt
Status
Active
MLS #
6765140
Property Type
Single Family Residence
Price Type
--
Highest Home on the south of Camelback with spectacular vistas. Very private gated estate sits on almost 3.5 acres. 10,500+ sf of living, 7 car garage, 12,000+ sf patios with magnificent views floating over Phx & Scottsdale. Main house includes huge master suite, gym, theatre room, wine cellar, billiards rooms, office & 2 very large private guest suites. Negative edge pool & hot tub, BBQ, perfect for entertaining. 2B/2BA Guest home large w/living room & full kitchen. Property also has an art studio, workshop, & storage. An opportunity to do a light remodel but value is in the land. Build a trophy estate on Camelback with the city allowing 37,000+ sf of lot disturbance and little to no pad prep to build the ultimate estate.
6717 E Solano Drive
Paradise Valley, AZ 85253
$6,950,000
4
Beds
5.5
Baths
6,425
SqFt
Status
Active
MLS #
6784399
Property Type
Single Family Residence
Price Type
--
This beautiful home of almost 7000 sq ft located in the heart of Paradise Valley, is an entertainers delight. In 2022 with the addition of over 3000 sq feet to the original homes footprint, the design team at Legacy Remodeling have created an exceptional home that boast both luxury and comfort. As you enter the home you are greeted by a beautiful outdoor courtyard with a fireplace and water feature both imported from France. No detail has been overlooked in this stunning kitchen with butler pantry. From the Wolfe, Cove and Subzero appliances to the bookmatched quartzite countertops, this dream kitchen has it all. The formal dining room located off the kitchen has wall to wall sliders on 2 sides of the room that open all the way to give you the feeling of dining al fresco. Take the elevator or stairs to the primary suite, with a balcony and gorgeous views of Camelback Mountain and the infamous Praying Monk. The primary bathroom has a washer and dryer conveniently located so no need to bring laundry up and down. The oversized steam shower is the highlight of the bathroom. The original homes footprint has 2 bedrooms along with a very large family room with a wood burning fireplace and game room. A new wine room was built with glass doors and a high top table to entertain your friends and family. The home also has a greenhouse room for indoor gardening. The backyard has a large outdoor cooking area and bar with plenty of seating. There is a putting green, pool and a ramada with an outdoor fireplace along with another gas firepit with bench seating around it. Enjoy the stunning views of Camelback Mountain and the beautiful Arizona sunsets while outdoors in this relaxing and serene backyard.
4116 E Mountain View Road
Phoenix, AZ 85028
$6,950,000
7
Beds
7.5
Baths
7,427
SqFt
Status
Active Under Contract
MLS #
6691499
Property Type
Single Family Residence
Price Type
--
Experience the pinnacle of luxury living with this extraordinary new construction estate, where every detail exudes unparalleled craftsmanship and sophistication. A harmonious blend of timeless elegance and contemporary grandeur. Designed to captivate the senses, the architectural brilliance of this estate is shown in every detail, from the majestic facade to the spectacular interior spaces. Just wait to experience the game of lights and the impressive LED designs. Expansive and bright living space open to a state of the art kitchen. Absolute culinary masterpiece with top of the line appliances, quartzite counters, custom cabinets, designer lights and fixtures. A second island for dining purpose available to be installed if Buyer wishes. Generous fully equipped butlers pantry adjacent to the kitchen. The heart of the home is a glorious contemporary fireplace dividing the space to offer versatility. Store your wine collection in the oversized climate controlled wine vault. The primary suite offers a wealth of luxurious amenities. 2 water closets, 2 custom walk-in closets, colossal multi-head shower room, soak-in tub. From your bed you get to enjoy the breathtaking views of your resort style backyard. All bedrooms are huge with their own lavish en-suite bathrooms located near a second living room. Wait to see the casita - elegant and private with full kitchen, laundry room, private entry and access to the garage and backyard.The outdoors space is every entertainer's dream - fireplaces to bring all the drama, Caribbean water color heated pool&spa, shower, turf and real grass, pickleball & basketball court, outdoor kitchen. Oh and those mountain views & stunning Arizona skies. Speaking of views, go up to the overlook deck and marvel at the serene beauty and awe-inspiring city lights and dreamy mountains. Landscaping is a perfection- a flawless symphony embracing the charm of the enchanting Sonoran desert. Highest tier energy efficient home.Prime location near A+ rated schools, fine dining, hiking, shopping, resorts. Easy access to 51 freeway that can take you to sought after venues within minutes.
5525 E Lincoln Drive Unit 124
Paradise Valley, AZ 85253
$6,935,000
4
Beds
4.5
Baths
4,068
SqFt
Status
Active
MLS #
6783044
Property Type
Single Family Residence
Price Type
--
Nestled in the prestigious Mountain Shadows Estates West of Paradise Valley, this luxurious 4-bedroom, 4.5-bathroom residence offers unparalleled elegance with breathtaking views of Camelback Mountain and direct access to the Mountain Shadows golf course, located on the scenic 10th hole tee box. Designed with meticulous attention to detail, this home seamlessly blends modern amenities with timeless sophistication. The expansive floor plan is anchored by a gourmet kitchen, featuring premium appliances, a large island, and custom cabinetry—perfect for entertaining. Throughout the home, large windows capture the stunning natural beauty of the surrounding landscape, filling the interiors with abundant natural light and showcasing the iconic Camelback Mountain views. Outside, the beautifully landscaped backyard offers a serene oasis with a covered patio, perfect for enjoying Arizona's breathtaking sunsets. The home also includes a three-car garage and ample storage space. Residents can gain access to the Mountain Shadows Resort, located just moments away. Indulge in world-class amenities, including fine dining, a luxurious spa, a state-of-the-art fitness center, and a resort-style poolall within the resort's sophisticated, serene setting. Don't miss the opportunity to own this exquisite property in Mountain Shadows Estates West. Listing Agent and Co-Listing Agent have a financial interest in the property (see documents tab for disclosure).
18720 N 101st Street Unit 3017
Scottsdale, AZ 85255
$6,900,000
5
Beds
5.5
Baths
5,534
SqFt
Status
Active
MLS #
6635509
Property Type
Apartment
Price Type
--
The FINAL and much anticipated phase of the highly successful Icon project now available with construction well underway and estimated completion in 2025. This is not only an opportunity for extraordinary views and new construction , it also continues to be the best opportunity to be inside the gates of Silverleaf. ICON at Silverleaf offers an unlimited lifestyle with the lock-and-leave luxury of exceptional single-story flats amid the incomparable beauty of Arizona's McDowell Mountains. This rare and unique offering of spacious, open-concept residences affords the very best of all possible worlds, close to the cosmopolitan conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert behind the gates of the truly iconic upscale private community of Silverleaf. An exquisite 5 BEDROOM CONDOMINIUM WITH BREATHTAKING VIEWS. With a total of 5,534 square feet, this contemporary yet timeless residence offers a spacious open floor plan and luxurious living. The expansive exterior patio offers plenty of room for entertainment while the interiors are meticulously crafted with high-end finishes and upscale details. Four parking spaces are included with this home along with two ample storage units. Silverleaf, located in North Scottsdale, Arizona, is a prestigious guard gated community known for its luxurious estates, exclusive golf courses, private Club and stunning desert landscapes. The Tom Weiskopf-designed Silverleaf Golf Course is a highlight for golf enthusiasts. With a blend of Spanish and Mediterranean-inspired architecture, the community offers a high standard of living, including upscale amenities like spas, fine dining, and exclusive shopping. Residents enjoy a harmonious balance between modern luxury and the natural beauty of the desert environment, making Silverleaf a sought-after destination for those seeking an exceptional lifestyle in North Scottsdale.
7714 N Calle Caballeros --
Paradise Valley, AZ 85253
$6,900,000
6
Beds
7
Baths
8,369
SqFt
Status
Active
MLS #
6773494
Property Type
Single Family Residence
Price Type
--
This stunning estate in Paradise Valley greets you with dramatic landscaping and lush lawns, effortlessly merging timeless charm with modern sophistication. Spanning 8,369 sq ft, the main house and separate casita are designed with meticulous attention to detail, featuring a barrel-vaulted herringbone brick ceiling in the kitchen, hand-carved wood beams in the living room, beautiful arched hallways, and exquisite stone and wood flooring throughout. Transform movie nights with the lavish custom theater and game room, ideal for gatherings with family and friends on warm summer days. Retractable glass walls in both the family and living rooms open to a resort-style backyard, complete with two custom cabanas overlooking a glass-tiled pool and expansive lawn. The primary suite, nestled in its own private wing, offers a cozy sitting area, an ultra-luxurious bath, custom his-and-hers closets, an exercise room with a wet bar, and a secluded patio. Down the grand arched hallway, you'll find the formal dining room adjacent to a wine cellar, as well as an impressive office featuring coffered wood ceilings and its own private patio.
1875 E Dragonshead Road
Rimrock, AZ 86335
$6,900,000
2
Beds
1
Bath
2,526
SqFt
Status
Active
MLS #
6756667
Property Type
Single Family Residence
Price Type
--
The spectacular Dyck Ranch is one of the largest privately held properties in central Arizona's stunning Verde Valley. It is 314 acres of endless opportunities, with over a mile and a half of Wet Beaver Creek running through it year round and 22 acres of irrigated farm land with grandfathered water rights. There are 3 wells (including an agricultural well for field irrigation) and a 2500 sf limestone, 2 bedroom residence originally built in 1959 and remodeled in 2010 to be a stunning studio space with 18 ft ceilings and floor-to-ceiling windows overlooking a well fed pond ringed with mature trees. The ranch sees extensive wildlife and backs up to Coconino NFS and the Montezuma Castle National Monument. It even hosts its own cliff dwelling archeological site and a suspension footbridge. A 100 miles from Phoenix, 50 miles from Flagstaff and 20 miles from Sedona, the old Dyck Ranch sits at a temperate 3500 ft in elevation. The varied topography offers mesas, gently sloping hillsides, and rocky outcrops overlooking an extensive riparian environment, pastures and irrigated fields. There are numerous potential building sites available for buyers looking to develop and acres and acres of space from the neighbors for buyers looking for privacy. Originally owned by renowned Western artist Paul Dyck for over 65 years, the property has supported cattle and horses, as well alfalfa and hay production over the years and now boasts a solar array with batteries designed to allow the ranch to function off-grid if desired. This quintessential Western ranch and secluded artist retreat is looking to you for the next stage in its existence, be it as private ranch, a retreat center, a sustainable family farm, an equestrian facility, a vineyard/winery, a luxury eco-resort, a wedding/event venue, or an entirely new subdivision of luxury homesthis land is ready for just about anything you can think of.
1385 S Loy Road
Cornville, AZ 86325
$6,900,000
10
Beds
10
Baths
39,489
SqFt
Status
Active
MLS #
6757510
Property Type
Single Family Residence
Price Type
--
Unparalleled opportunity to own over 40 acres outside of Sedona. These remarkable 8 parcels hold the potential to create your own ranch, business, and rental opportunities all in one place. Sitting Creekside and just 20 minutes outside of Sedona, this horse property includes residential homes, a hotel, an opera house, indoor skating rink, tennis court, golf course, barn/stable, general store, and original stage coach. Listing Broker has full parcel and property details. This is truly a one of a kind property.
5950 W Table Mesa Road
New River, AZ 85087
$6,900,000
4
Beds
4
Baths
6,107
SqFt
Status
Active
MLS #
6779134
Property Type
Single Family Residence
Price Type
--
There is one covered R V area with water, sewer, power, additional covered parking, built in horse shade and feeding area, mature trees and landscaping, extensive outside lighting, all underground watering system, over 25 thousand sq. of grass, 20 X 40 ft. swimming pool with cabana and covered patio on main house. The Aqua Fria River flows through this property and has flowing water most of the year. A recently completed synthetic grass driving range with two golf holes and driving Tee boxes at 120yds.. 75yds.. 50yds.. and sand bunkers. Full sized double green, observation deck, various trails all the way to Prescott AZ - off road trails and horse trails. There is room for future development of R V spaces and or single family lots
7155 E Oakmont Drive
Paradise Valley, AZ 85253
$6,900,000
5
Beds
4.5
Baths
5,088
SqFt
Status
Active
MLS #
6760542
Property Type
Single Family Residence
Price Type
--
This corner golf green ethereal estate, completely renovated in 2017, is a turnkey, award-winning, corner 1-acre lot, golf green, panoramic mountain view property with monthly rental bookings at $51K per month by A-list celebrities. This transcendent estate has earned the most prestigious recognition from Airbnb, including the Top 1% award, the Gold Badge award, the Guest Favorite award, and the Luxe designation. This is the only corner lot home in Paradise Valley perched on a golf green with sweeping mountain views. You can build a house with a large square footage but you cannot recreate a corner golf green lot with mountain views, and rarity is what drives value. This rare estate boasts a one-of-one location perched on a coveted corner elevated golf green lot with 360-degree mountain views in the heart of the neighborhood. This award-winning luxury vacation rental estate, which A-list celebrities have rented for $51K per month, is an architectural masterpiece that is located in the exclusive Camelback Country Club Estates in Paradise Valley, Arizona, which is the most expensive zip code in the Southwest United States, just 10 minutes from downtown Scottsdale and the Scottsdale SDL Private Airport. This singular, light-bathed, ethereal estate is perched on an elevated corner lot with sweeping views over a Ritz Carlton Camelback championship golf green. At night, this home controls the floodlighting of the golf green, illuminating the flag of Hole Three just 45 feet away against the stunning nightscape. This ethereal estate is reminiscent of a Roman palace with symmetrical, reflective designs that would make even the Taj Mahal blush while seamlessly blending grandeur with modern luxury, creating a living experience that feels both timeless and otherworldly. This home is more than just a residenceit is a private resort, a legacy, and a work of art. It boasts a stunning location, as it is a corner lot close to the golf green, in the center of the neighborhood at the heart of the golf course. This elevated lot provides 360-degree mountain views while towering over all other homes in the neighborhood. The home encircles a private, walled interior courtyard enclave, ensuring that this estate cannot be replicated anywhere in the world. The corner elevated lot with a golf green and mountain views is not just one-of-a-kind but one-of-one. The home is surrounded by verdant lawns, three mature citrus gardens, and 33 tall eucalyptus, orange, and palm trees, while the Audubon Sanctuary of birds provides a melodious backdrop for 360-degree mountain views. The home's breathtaking enclosed courtyard design includes five ensuite bedrooms, a library/office, a gym, and a four-car garage with a carport. Every bedroom is an ensuite retreat offering unique features like Zen citrus gardens, private courtyards, or expansive decks. The master wing boasts a private sitting room, a gym/massage room, a walk-in closet, a water closet, a jacuzzi tub beneath a skylight, a four-headed multi-directional shower, and an authentic Finnish sauna. The master suite opens directly into both a private courtyard and a Zen citrus garden. This beautiful fortress of walled privacy has a one-of-a-kind, massive enclosed interior courtyard with a heated Roman swimming pool and outdoor shower that are supremely private, making it perfect for skinny-dipping. This courtyard also features 42 regal light fixtures, Grecian columns, and a 12-foot ornate snooker table imported from England that is three times the size of a regular pool table. Massive decks and courtyards provide the perfect vantage point for stargazing by night, while the large expanses of lawn and lush greenery offer an oasis of peace and privacy and 360-degree mountain views. You will be captivated by this opulent structure's grand scale, unparalleled craftsmanship, and massive grounds. Spanish tile floors and four adobe-style fireplaces add to the grandeur, with designer finishes accentuating modern conveniences. The chef's kitchen boasts endless countertops, a dining-table-sized island, and Thermador appliances. The courtyard also provides an exceptional space for entertaining, with oversized covered patios creating the perfect space for hosting guests or relaxing in the serenity of the landscape around the sparkling walk-in Roman pool. An outdoor shower in the courtyard adds a luxurious touch, perfect for cooling off or a refreshing rinse after swimming in perfect privacy in the interior enclosed courtyard. This exquisite, stunning home is a rare find that offers a lifestyle of unparalleled luxury and privacy. Welcome to your personal paradise, where every day feels like a hole-in-one and every night feels like a dream come true!
19452 N 98th Place
Scottsdale, AZ 85255
$6,895,000
5
Beds
5.5
Baths
6,288
SqFt
Status
Active
MLS #
6741408
Property Type
Single Family Residence
Price Type
--
This exquisite home, beautifully updated and perfectly situated on a prime lot backing to the Reata Wash, is located in the highly sought-after Arcadia Silverleaf neighborhood. It offers breathtaking mountain and city light views while providing the ultimate in privacy and the best of Arizona living. This stunning residence features luxurious modern Spanish details and unmatched, expansive outdoor spaces. With 5 ensuite bedrooms, 5.5 bathrooms, & a bonus room, the home boasts an open, light, and bright floor plan adorned with limestone and hardwood flooring, Cantera stone fireplaces, and a gourmet kitchen equipped with quartz and marble waterfall counters, custom cabinetry, eglomise mirrored glass backsplashes, Sub-Zero and Wolf appliances, two Bosch dishwashers, a butler pantry w with a Sub-Zero wine fridge, and two refrigerator drawers. The spacious laundry room includes ample cabinetry and an ice maker. The private primary retreat offers a sitting room with a cozy fireplace, a coffee/beverage center, his and her closets, his and her water closets, and a grand two-sided entry steam shower. Wine enthusiasts will appreciate the dedicated wine tasting room with a temperature-controlled wine wall that holds 864 bottles, complemented by an additional wine cellar for 212 bottles. The backyard is an entertainer's paradise, perfect for enjoying spectacular Arizona sunsets with a heated pool and spa, serene water features, electric sun shades, an outdoor kitchen, and a wood-burning fireplace. The immaculate oversized three-car garage features epoxy flooring and ample storage cabinets. Recent upgrades to the property include all new HVAC units, updated Pentair pool equipment, an updated lighting system, and two new tankless hot water heaters to ensure modern comfort and convenience. For a comprehensive list of features and upgrades, please refer to the documents tab. This home is truly exceptional and is sure to appeal to the most discerning buyers, with its ideal proximity to shopping, dining, and the 101 freeway. The best of location, luxury, and lifestyle.
8627 E Whisper Rock Trail Unit 120
Scottsdale, AZ 85266
$6,830,000
4
Beds
5.5
Baths
6,295
SqFt
Status
Active
MLS #
6561784
Property Type
Single Family Residence
Price Type
--
Located on one of the finest lots within Whisper Rock Estates, this to-be-built home has been designed with the utmost care and craftsmanship * Craig Wickersham (Architect) & R-Net Custom Homes (Builder) combine to create a timeless, one-of-a-kind masterpiece on a south-facing, 2.7 acre site * Just about 6300 sq ft of livable space, offering an ideal layout consisting of an open living concept, 4 full bedroom suites, gym, media, office, bar and wine room * Zero interior steps, true indoor/outdoor living, 4-car garage and outdoor kitchen complete the design * See the documents tab for details *