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.
Click Here to See What Your Home is Worth
679 W Moon Valley Drive
Phoenix, AZ 85023
$1,189,000
4
Beds
3.5
Baths
4,560
SqFt
Status
Active Under Contract
MLS #
6737329
Property Type
Single Family Residence
Price Type
--
First time on the market in 25 years! This single-level custom home offers over 4,500 sq ft with impressive living spaces and generous-sized bedrooms. There are plenty of spaces to entertain here! The formal living room has a cozy fireplace, while the great room is flooded with natural light and features a wall of custom built-ins. The authentic Irish Pub offers the perfect place to unwind with your friends and enjoy a pour of your favorite whiskey. Kitchen has plenty of cabinets, a gas cooktop, newer fridge & dishwasher. The primary suite is oversized, with views of the backyard and double walk-in closets. Outside, enjoy a covered patio, expanded pavers and huge grassy backyard overlooking the 18th Fairway at MV Country Club. Roof recoated 2020, tile redone 2021. Owned solar! No HOA!
408 E Claremont Street
Phoenix, AZ 85012
$1,189,000
4
Beds
3
Baths
2,570
SqFt
Status
Active
MLS #
6778416
Property Type
Single Family Residence
Price Type
--
Discover a haven of modern elegance tucked away on a quiet street in the heart of Phoenix. This clean, stylish 4-bedroom, 3-bath retreat offers the perfect balance of sophistication and comfort. Enter & be greeted by the warmth of tile ''wood plank'' flooring, beautifully complemented by chic white shaker cabinets—an inviting space just waiting for your unique touch. French doors lead to your private outdoor sanctuary. Designed for entertaining, this space boasts a cozy fire pit, a sparkling pool, and a finished, covered patio that seamlessly blends indoor and outdoor living. With a bathroom conveniently accessible from the pool deck, hosting poolside gatherings couldn't be easier. Beyond the home, you're minutes away from Phoenix's top-rated boutique shops, renowned dining spots, and a vibrant nightlife. For nature lovers, nearby hiking trails offer quick escapes to breathtaking desert vistas. Whether you're exploring nearby trail-heads or indulging in high-end shopping and culinary delights, this location is a dream come true. With a spacious 2-car garage and quick access to major highways, you'll enjoy seamless travel to all the Valley has to offer. This stunning home is move-in ready and awaits its perfect match. Don't let this rare urban retreat slip away come experience it for yourself! This home is Vacant and easy to show. Come see it today!
7385 W St Moritz Lane
Peoria, AZ 85381
$1,185,500
4
Beds
3
Baths
2,880
SqFt
Status
Active
MLS #
6626576
Property Type
Single Family Residence
Price Type
--
Beautiful new home on large lot in gated community with HUGE RV GARAGE! This luxurious modern Spanish home boats enormous 1538 sq. ft. garage with EV charger, 4-car parking PLUS a 44' RV garage for all the toys. Nearly 2900 sq. ft. with 4 bedrooms, large den, 3 full baths and oversized laundry room that caters to everyday living. Exceptionally built with spray foam insulation for ultimate comfort and efficiency; extensive wood-tile flooring, quartz counters and amazing cabinetry. 10' ceilings, 9' and 14' garage doors, and 169' deep lot! Backyard landscape included! Adjacent to Arrowhead and P83 and situated next to the HOA park, it's location, location, location!
19028 E Picacho Road
Rio Verde, AZ 85263
$1,185,000
3
Beds
3
Baths
3,337
SqFt
Status
Active
MLS #
6789179
Property Type
Single Family Residence
Price Type
--
Quiet setting in the gated golf community of Tonto Verde. Large lot backs up to a wash with Mountain views. 3 Bedrooms, 2.5 Baths, Great Room, Den/Office/4th BR. 2 Dining areas, Open Kitchen. Granite Counters, Bar seating, Kitchen Island, Pantry, Dbl Ovens, Microwave. Split floorplan for the Bedrooms. Alderwood Cabinets, 8ft Interior Doors. AC units updated, wrap around covered patio with large windows for the views. Large Utility Room with sink and ample storage. 3 Car garage with over height doors, epoxy floor, storage cabinets and extended length. Gas fireplace in Living room, 12ft ceilings, tile & carpet flooring. Back yard with flagstone Firepit area and fenced in dog run. Golf Memberships available, New Pickleball courts and dog park opening soon.
309 E Hayward Avenue
Phoenix, AZ 85020
$1,185,000
4
Beds
4
Baths
2,369
SqFt
Status
Active
MLS #
6776609
Property Type
Single Family Residence
Price Type
--
Where Old-World Charm Meets Modern Day Luxury in the Heart of North Central Phoenix! Welcome to this stunning estate, a beautifully remodeled gem nestled ''Between the Sevens'' within the sought-after Madison School District. The main house features three spacious bedrooms and three full baths, exuding elegance and modern charm. The highly upgraded kitchen is a chef's dream, boasting chic custom lacquer-finished cabinets with roping inlay, glass doors, quartz countertops, and a seamless backsplash. High-end white Café appliances with bronze-accented hardware perfectly complement the undermount single-basin white porcelain sink. Every cabinet is thoughtfully designed with full-size drawer pull-outs, a pull-out cutting board, organized utensil and spice drawers, and ample storage. The kitche flows seamlessly into the formal dining room with its Moroccan-tiled floor, overlooking the pool and offering walk-out access to the expansive 18'x26' trellised pergola. Meticulously refinished solid oak flooring with mahogany inlay extends throughout the main living areas, while a bay window corner with an arched recess and vaulted ceiling creates a spacious nook--ideal as an office, study, or library. Each room is charismatically adorned with exquisite ceiling fixtures, fans, recessed lighting, and vaulted ceilings. Adding a touch of intrigue and functionality, a dual-purpose bookshelf door conceals the inside laundry room and butler pantry. With plentiful cabinetry and penny-round tile flooring, this space is a hidden treasure. The primary suite is a luxurious retreat, showcasing naturally re-honed and refinished stonework in the bathroom. The hall bath, shared by the second and third bedrooms, includes a curbless shower with a marble basketweave mosaic tile floor for added elegance. A third bath with a clawfoot soaking tub and Moroccan tile flooring is conveniently located just off the formal dining room. Step outside to your private oasis, where no detail has been overlooked. The beautifully landscaped and hardscaped front and backyards boast a large outdoor Pergola with a checkerboard-patterned piazza-style patio. The gorgeous, heated pool and spa come equipped with new smart pool equipment, allowing you to control the temperature and features from your phone. Custom steel trellis, ironwork, and flower boxes surround the pool area, creating a serene retreat. The property is further enhanced with brand new dual-paned windows and sliding patio doors, new solid wood interior doors with crystal hardware, and an upgraded HVAC unit with a whole-house air filtration system. Electrical upgrades include a dual inverter and an electric vehicle charging station. Additionally, new water heater, plumbing, and sewer lines have been installed both inside and outside, including underground systems. A separate driveway leads beyond the main house to a potential fourth bedroom/studio guest house, offering versatile space for guests, a workout room, or a private studio. The casita features a new roof, new mini-split HVAC, closet, and a full bath. With its prime location, impeccable upgrades, and luxurious amenities, this property provides an unparalleled living experience in the North Central Corridor all year round!
2839 E Bellerive Drive
Gilbert, AZ 85298
$1,185,000
4
Beds
2.5
Baths
3,340
SqFt
Status
Active Under Contract
MLS #
6762944
Property Type
Single Family Residence
Price Type
--
Wow! Outstanding Spanish-style property with all the bells & whistles at gated Montaverde is a true gem! With 10 foot ceilings this 4 bedroom plus den plus office plus formal dining room home offers excellent curb appeal, a 2.5 car garage, RV gate, and paver driveway. Enter through the amazing courtyard into the abode to discover sheer beauty & breathtaking detail with a split floor plan boasting tall ceilings, a formal living room, a delightful dining room, sophisticated fixtures & features throughout, real hardwood flooring, plantation shutters, and recessed lighting. The captivating great room features faux ceiling beams, a fireplace, and a sense of openness, promoting a greater traffic flow. The elegant white kitchen showcases cabinetry with crown moulding, tile backsplash, granite counters, stainless steel appliances, a built-in fridge, a large walk-in pantry, and a large island with breakfast bar. The owner's suite hosts a lavish ensuite with a soaking tub, step-in shower, dual granite vanity, and a walk-in closet. The secluded den is ideal for an office. The outdoor oasis is an entertainer's dream, offering a covered patio, lush lawn, cobblestone & travertine, an elegant Ramada with electrical outlets & fan, and a beautiful gas heated pool and jacuzzi with water features & seating area to sunbathe. So many beautiful flowers, raised garden beds and fruit trees too with great views of the mountains so close by. Beautiful side yards too. Words don't give this gorgeous extremely sophisticated and highly upgraded masterpiece of a home justice!
4003 E Via Montoya Drive
Phoenix, AZ 85050
$1,185,000
4
Beds
2.5
Baths
2,971
SqFt
Status
Active Under Contract
MLS #
6742456
Property Type
Single Family Residence
Price Type
--
YOUR CLIENT IS GOING TO LOVE THIS HOME! Location, Location, Location! North Phoenix in Desert Ridge is this gorgeous home exquisitely appointed and finished with upgrades galore. This 2,971 sq ft, 4-bedroom, 2.5-bath, plus den w/split Master floorplan boasts a gorgeous chef's dream kitchen GE Profile Induction range, wall double ovens, large microwave, built-in refrigerator, built-in wine refrigerator, coffee/wine bar nook, walk-in pantry, extended glass upper cabinets w/lights, enormous island w/granite slab countertops, and custom lighting; extra-large Master w/separate exit, and master bath w/double sinks, attractive oversized walk-in shower, private toilet room, loads of lighting, & large walk-in closet w/barn door; Den w/French doors, custom cabinetry; vast living-dining great room w/full wall panel of windows & hard wood flooring; powder room; laundry room w/custom cabinetry, clothing rack & 4 built-in hampers; large family room off of the kitchen w/separate exit to the rear yard; 3 additional nice sized bedrooms; Guest bath w/separate toilet room. The grounds feature: magnificent front yard w/paved walkways & courtyard; stunning rear yard is breathtaking w/large sunk-in pit w/gas freestanding fireplace & sitting wall, extended covered patio w/built in BBQ & tongue grooved cover, additional sitting areas, and loads of pavers on the patio, pool decking & walkways, sparkling pool w/spa & large water feature, separate utility yard, & separate dog run area. This home is a family's entertaining dream. The location is within proximity of top-rated schools, shopping, dining, entertainment, hospital, & 101 & 51 freeways. This is an absolute DELIGHT that you MUST SEE!
1754 E Paint Horse Place
San Tan Valley, AZ 85140
$1,185,000
4
Beds
2.5
Baths
2,738
SqFt
Status
Active
MLS #
6734487
Property Type
Single Family Residence
Price Type
--
Nestled on a sprawling 1.24-acre horse property, this exceptional home boasts a blend of luxury and functionality. The expansive residence features four bedrooms, plus a cozy den, and 2.5 bathrooms, making it perfect for both living and entertaining. The huge kitchen is a chef's dream, showcasing a stunning combination of concrete and quartz countertops, a stylish copper sink, and a dedicated coffee station for morning brews. The walk-in pantry offers ample storage for all your culinary needs. Outside, the amenities continue with a sparkling pool and an above-ground spa, perfect for relaxing after a long day. Additionally, a 2,400 sqft shop/RV garage provides ample space for projects and storage.
19555 E Via Del Oro --
Queen Creek, AZ 85142
$1,184,500
4
Beds
3
Baths
3,405
SqFt
Status
Active
MLS #
6754180
Property Type
Single Family Residence
Price Type
--
Seller is offering 3% buyer concessions to be used for upgrades, updating, closing costs or even to buy down the interest rate for this sprawling estate with horse privileges. Enjoy the sound of the water fountain at the porte-cochère over the circular drive leading to the front entry. Inside, experience soaring ceilings, a wall of windows and gorgeous views. The primary suite is a sanctuary featuring a bathroom with step-in shower, jacuzzi tub, walk-in closet and fireplace. The laundry room is equally grand, with abundant cabinetry, shelves and sink. The backyard is nothing short of an oasis, boasting a glistening pool, a soothing hot tub, and a charming ramada with a fireplace for unforgettable gatherings or a cozy evening under the stars. This home is a lifestyle waiting to be embraced Seller recently replaced both A/C units and cleaned the air ducts, replaced all the carpet with luxury carpet and extra thick padding, replaced the Dishwasher, Microwave, Stove, and Water Softener.
7400 E Gainey Club Drive Unit 233
Scottsdale, AZ 85258
$1,180,000
3
Beds
3
Baths
1,869
SqFt
Status
Active
MLS #
6775411
Property Type
Townhouse
Price Type
--
Discover opulence in this exquisite move-in ready 3 bedroom, 3 bathroom golf course townhome located within the prestigious gated Gainey Ranch community, just moments away from the heart of Old Town Scottsdale. This stunning property is a testament to luxury living, showcasing high-end finishes throughout boasting soaring vaulted ceilings that create a sense of grandeur. The expansive windows flood the space with natural light, offering breathtaking views of the lush golf course and beautiful mountains in the distance. This unit features two primary bedrooms, each with en-suite baths with walk-in showers, providing unparalleled comfort and convenience. The third bedroom is equally well-appointed, with a conveniently located bathroom featuring a lavish Kohler soaker tub just across the hall. Prepare gourmet meal in the custom-designed kitchen featuring soft grey shaker cabinets and leather-ed granite countertops and custom shelves above the sink. Stainless steel appliances, including a built-in wine fridge, make this kitchen perfect for entertaining family & friends. Step outside to your large patio, seamlessly connected to the living room, where you can relax and enjoy the serene views of the golf course and the McDowell mountains. With a two-car garage complete with storage cabinets, this condo offers both luxury and functionality. Enjoy the Estate Club which features pool, work out facilities, daily group fitness classes, tennis and pickle ball courts, full time tennis pro, pickle ball and tennis leagues, lounge areas and more. The conference rooms and separate meeting rooms can be reserved for business as well as a wine room for main parties. They have several monthly events including concerts.
3281 W Falling Leaf Road
Show Low, AZ 85901
$1,180,000
4
Beds
3.5
Baths
3,136
SqFt
Status
Active
MLS #
6680231
Property Type
Single Family Residence
Price Type
--
Welcome to your dream retreat nestled among the tall Ponderosa Pine trees of Torreon. Home was beautifully remodeled inside and out in 2020 and comes Fully Furnished. The breath taking views makes this a truly exquisite property. As you approach this stunning 4-bedroom, 3.5-bathroom estate, which includes a ground level 1 bedroom, 1 bath separate casita. The exterior boasts a spacious 4-car garage, being oversized allows for your vehicles and outdoor gear. Step inside, and you'll be captivated by the warm ambiance of the interior, accentuated by the glow of not one, but two fireplaces—one inside for cozy evenings indoors, and another outside, perfect for gathering with loved ones under the starlit sky. Experience the excitement of mountain living in this exceptional Torreon residence
15215 N Kierland Boulevard Unit 436
Scottsdale, AZ 85254
$1,180,000
2
Beds
2
Baths
1,378
SqFt
Status
Active
MLS #
6684481
Property Type
Apartment
Price Type
--
Lifestyle living at its finest. This 2 bedroom, 2 bathroom condo offers expansive living space that opens to floor-to-ceiling glass with gorgeous views of the Westin Kierland Golf Course, McDowell Mountains, and City Lights with beautiful Arizona sunrise and sunsets. High-end Gourmet Kitchen with Wolfe range, SubZero refrigerator, and Asko dishwasher. Spacious primary bedroom with wall of windows highlighting golf course views. The bathroom has an oversized shower, double sinks, a separate room for the toilet, and a generous walk-in closet. The secondary bedroom is beautifully designed with an En Suite Bath. Freshly remodeled in 2019 this lock and leave is spectacular. Conveniently located on the 4th Floor, just steps from the outdoor kitchen/dining area, covered ramadas, fireplace, fire pit, and gas barbeque. Scottsdale living at its best with Kierland Commons, Scottsdale Quarter, Kierland Resort & Spa, and 27-hole Kierland Golf Course. Enjoy the many amenities a luxury home can offer without the maintenance. Amenities include on-site concierge staff and property management, a private fitness studio, two community lounges, two resort-style sundecks, a heated lap pool, grilling stations, pet park, reserved owner parking, and guest parking in the private garage, and exclusive VIP discounts on shopping and dining throughout Kierland Commons, Scottsdale Quarter and special privileges at the Westin Kierland Spa and Kierland Golf Club.