Should You Pay Your Mortgage Bi-weekly or Monthly? Let’s Take a Look

Should You Pay Your Mortgage Bi-weekly or Monthly? Let's Take a LookMost 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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3051 W Sousa Court Anthem, AZ 85086

$1,100,000
4 Beds
3.5 Baths
4,704 SqFt
Status Active
MLS # 6738775
Property Type Single Family Residence
Price Type --
Be prepared to be impressed! Located in the heart of Anthem, Arizona, this home exemplifies modern living at its finest. Step inside this beautiful home and be greeted by new carpet throughout, custom paint, shutters, and custom light fixtures. In the master suite you'll find a home office, rod iron divide, custom curtains, and custom closets from California closets. In the kitchen you'll notice custom granite and backsplash, double ovens, updated microwave, fridge, and stove, plus reverse osmosis. In the living room there is a custom built in entertainment center and custom fireplace mantel. Laundry room custom cabinets from California closets. Added theater room with soundproofing, blackout room, projector, and speaker. Surround sound through the house. Home is set up to be a smart home. There is a second home office plus additional bedroom/den and kids study/desk area. Home could be made into 6 bedrooms with the office and den. Formal dining, breakfast bar, and great room in the home. In the garage you'll find custom garage cabinets, tank-less water heater, and soft water system. On the exterior there are 3 air conditioners, one original, one 7 years old, and one 5 years old all in good working condition. Roof was replaced 7 years ago. Plus UV sun shades on windows. In the backyard turf has been added, outside kitchen and seating area with fireplace, 2 grills, place for 5 TV's, pool 10 ft deep and spa with slide and waterfall, plus added exterior gates. Courtyard and intercom system in the front plus home set up for a security system. Replaced/repaired windows in the entire house. Added more rock and repaired the drip system and landscape clean up. Replaced almost all ceiling fans. Replaced all door handles. Owners have been in the home for 22 years and took great care of it.

25628 N Moon Blossum Lane Phoenix, AZ 85083

$1,100,000
3 Beds
3.5 Baths
3,496 SqFt
Status Active
MLS # 6765419
Property Type Single Family Residence
Price Type --
Desirable Stetson Hills home sitting on over 18,000 square feet of prime real estate, features a private courtyard, 4-car garage, paver driveway, a 10' utility gate, and owned solar system. The home has 3 bedrooms, 3.5 bathrooms, an office with custom built-in shelves, and a Liberty safe. The backyard is truly an oasis that backs up to a desert wash with mountain views. Entertain with the outdoor Viking kitchen, heated pebble tec pool & spa, charming grass area, extended covered patio with motorized awnings. The kitchen features a breakfast bar, Sub-Zero refrigerator, KitchenAid built-in microwave/oven, Thermador Professional Range with gas cook top & electric oven. The two AC units are 4 and 8 years old. Motorized sunscreens are in all the right places.

39012 N 11th Avenue Phoenix, AZ 85086

$1,100,000
4 Beds
4.5 Baths
3,485 SqFt
Status Active
MLS # 6771611
Property Type Single Family Residence
Price Type --
Escape to your own private retreat with this stunning custom home, set on a serene 1.3-acre lot surrounded by breathtaking Arizona mountain and city views. This 4-bedroom, 4.5-bathroom sanctuary offers unparalleled privacy and luxury. Step out onto your private balcony, just steps from the master suite, and take in the panoramic sights. The master suite is a true oasis, featuring a luxurious soaking tub, walk-in shower, and an expansive walk-in closet. The heart of the home is the beautifully designed kitchen, complete with top-of-the-line appliances and ample space for entertainment, perfect for hosting any party. Enjoy the flexibility of a separate sitting or game room, while each of the additional spacious bedrooms boasts its own walk-in closet and en-suite bathroom, offering comfort and privacy for all. The property also includes a separate guest quarter with its own entrance, ideal for visitors or extended stays. Descend the spiral staircase from the balcony and find yourself by a sparkling lap pool, surrounded by lush turf. The space is gas-plumbed, ready for you to create an outdoor BBQ kitchen area. The meticulously landscaped grounds feature custom-painted desert accents and are framed by the natural beauty of the surrounding desert, along with your own mature fruit trees. Don't miss the opportunity to own this unique desert charm of home yours!

3361 Josey Wales Way Wickenburg, AZ 85390

$1,100,000
3 Beds
3.5 Baths
2,724 SqFt
Status Active
MLS # 6764569
Property Type Single Family Residence
Price Type --
This stunning 3-bed, 3.5-bath home spans over 2,700 sq ft on an oversized homesite, offering expansive indoor & outdoor living. Impeccably maintained, it features a private guest casita with a separate entrance, custom gazebo & water feature. The gourmet kitchen boasts a Monogram cooktop & refrigerator, soft-close cabinets & drawers, & a custom pantry. Large picture windows & two full walls of sliding glass doors seamlessly blend indoor & outdoor spaces. The covered patio with a built-in BBQ is perfect for entertaining. Exterior painted recently with Rhino Shield® paint (25-year warranty) offers protection from cracks and chips. The extended tandem garage has upgraded insulation & a mini-split for climate control, ideal for year-round use. (See Below for Full Description) This beautifully maintained 3-bedroom, 3.5-bath home spans over 2,700 sq ft and sits on an oversized homesite, offering both luxurious indoor and serene outdoor living spaces. Every inch of this home has been designed with comfort and style in mind, featuring thoughtful upgrades throughout. The private guest casita, with its own separate entrance from the front courtyard, provides a tranquil retreat for visitors. The courtyard itself boasts a custom gazebo and water feature, perfect for relaxing or entertaining. Step into 10ft ceilings and 8ft doors with 6in baseboards in every room. The gourmet kitchen and experience true chef-level luxury, with a built-in Monogram cooktop and refrigerator with a custom built-in pantry in the home's smart space, designed for ultimate convenience. The main living area is flooded with natural light from large picture windows and two full walls of sliding glass doors that open at the corner, seamlessly blending indoor and outdoor spaces. This open-concept design leads to a large, covered patio complete with a built-in BBQ, creating the perfect setting for entertaining or relaxing year-round. The exterior has been recently painted with the high-end Rhino Shield® system, which comes with a 25-year warranty against cracks and chips, ensuring your home's curb appeal remains pristine for years to come. The extended tandem garage is designed for more than just parking, featuring upgraded insulation in the walls, ceiling, and garage door, along with a mini-split system for climate control, making it a perfect workspace all year long. Don't miss out on this exceptional home, offering a blend of style, comfort, and innovation in every detail.

3797 Gold Ridge Road Wickenburg, AZ 85390

$1,100,000
3 Beds
3.5 Baths
2,692 SqFt
Status Active
MLS # 6770551
Property Type Single Family Residence
Price Type --
Immerse yourself in the LUXURY of this spacious 2,692 Sq.Ft. Home. Shea's Latigo Model earned a best design award. A Prestigious build w/ 3 beds/3.5Baths. Your will love the Casita! SERENITY & COMFORT are yours. MOVE IN READY! Space to suit all of your needs & Plenty of Cabinets to store every project. A Wall of Glass opens to double your entertainment area. Tiled floor seamlessly flows to patio. 3 large auto/remote screens provide privacy & protection from the elements. Impressive Stone Wall Entry. Private Courtyard w/ a beautiful gas Fireplace, the perfect place for gatherings & celebrations. 3 Car Garage accommodates your Golf Cart too. Start Living your best life today- Golf, Walking Paths, Parks, Fishing, Pickleball, Pool, Sports Complex, Art Barn & Spa- It;s time for Resort Living.

16014 E Glenbrook Boulevard Fountain Hills, AZ 85268

$1,100,000
5 Beds
3 Baths
2,965 SqFt
Status Active Under Contract
MLS # 6683581
Property Type Single Family Residence
Price Type --
Looking for a home with a casita in the NorthEast Valley? Look no further than this updated home on over an acre corner lot! Spectacular mountain and sunset views from backyard! Primary home consists of 3 bedrooms, 2 baths. Open and inviting ''circular'' floorplan with soaring ceilings and custom fireplace. Updated kitchen with oversized island, granite countertops, and stainless steel appliances. Beautiful views from large master bedroom complete with remodeled bath and walk-in closet with shelving. Casita has two additional bedrooms (one with a murphy bed for easy space conversion,) a kitchenette, and laundry hookups. Inviting patio off casita great for grilling with built in sink and counter space. New exterior landscape lighting adds ambiance to your outdoor retreat. Owners invested over $25k to add new landscaping to compliment the easy-care turf. New PVC watering system with auto timers installed in front and backyards and hard-wired retractable awnings in back. Too many additional features to list: brand new water heater (9/24,) plantation shutters, electric wireless roll-up blinds at sliding doors, smart home nest thermostat and ring doorbell, RV gate, 4 car garage, with storage room and attic, water softener, fully fenced backyard, newer pool equipment. No steps, wheelchair friendly doors and hallway. Prior owner installed new dual pane windows and doors, added sunscreens, remodeled baths, recoated roof, and updated AC, air handler, and ductwork. Seller offers loan programs to make this home more affordable for you! Inquire within.

4464 E Campbell Avenue Phoenix, AZ 85018

$1,100,000
3 Beds
3 Baths
1,573 SqFt
Status Active Under Contract
MLS # 6733217
Property Type Single Family Residence
Price Type --
Welcome to this luxurious modern home where elegance meets comfort in this stunning residence nestled in one of Phoenix's most coveted neighborhoods, Arcadia, known for its lush landscapes and Mountain View's. This contemporary design with clean lines offers an open and airy atmosphere throughout. With 3 spacious bedrooms and 3 beautifully appointed bathrooms featuring modern fixtures and luxurious finishes. A chef's kitchen with top-of-the-line appliances, custom cabinetry, countertops and a peninsula perfect for entertaining. An expansive living area seamlessly blends indoor and outdoor living with a large, multi panel sliding door providing abundant natural light and a perfect view of Camelback mountain. A private, low maintenance backyard oasis ideal for relaxation and gatherings. A serene master suite with a spa-like bathroom, soaking tub, oversized shower, walk-in closet and sliding, Arcadia door with another beautiful view of the scenic surroundings. The attached tandem garage has a lift that can fit 3 cars of the appropriate size, a two person infrared sauna, tool box, sink and a stacked washer/dryer. It is air conditioned and has a window, could be converted into livable space for modern convenience. There is a new metal roof with a warranty and insulation as well as an air filtration system for energy efficiency. Arcadia is renowned for its excellent schools, gourmet dining, and proximity to hiking trails and recreation spots like Camelback Mountain. Enjoy a lifestyle that combines urban convenience with a tranquil suburban feel.

3675 Gold Ridge Road Wickenburg, AZ 85390

$1,100,000
3 Beds
3.5 Baths
2,768 SqFt
Status Active
MLS # 6773771
Property Type Single Family Residence
Price Type --
Luxurious 2,768 sq ft Latigo floor plan in the Bonanza neighborhood on an elevated corner lot offering sunrise & mountain views from the living room & primary bedroom, both opening to a private patio. Highlights: 3-CAR EXTENDED tandem GARAGE w/mini-split heating & cooling system, PAID-OFF SOLAR, extended driveway & the entire exterior has been repainted in the last year Guest suite/casita features its own entry & cozy sitting area, adjacent to a front courtyard w/ a gas fireplace. Great room opens to outdoor living through sliding glass walls, leading to a fenced backyard w/ a pool, BBQ & covered patio. Primary suite boasts dual walk-in closets, dual vanities, soaking tub & walk-in shower. A blend of luxury, functionality & views! Luxurious Latigo Floor Plan with Sunrise & Mountain Views Discover unparalleled elegance in this 2,768 sq ft Latigo floor plan, located in the desirable Bonanza neighborhood. Nestled on an elevated corner homesite, this home boasts breathtaking sunrise and mountain views from both the living room and the primary bedroom. Both spaces offer seamless access to a private patio through sliding glass doors, creating a tranquil indoor-outdoor connection. The guest suite/casita is a standout feature, complete with its own private entry and cozy sitting area. The front courtyard, which offers an inviting ambiance, is enhanced by a charming outdoor gas fireplace, perfect for gathering and relaxation. Designed for entertaining, the great room opens to a stunning outdoor living space via expansive sliding glass walls. The fenced backyard is a true retreat, featuring a sparkling pool, a built-in BBQ, and a covered patio perfect for enjoying Arizona evenings. The primary suite is a luxurious haven, offering dual walk-in closets, dual vanities, a soaking tub, and a spacious walk-in shower. Additional highlights include:

793 E Elmwood Place Chandler, AZ 85249

$1,100,000
4 Beds
3 Baths
3,146 SqFt
Status Active Under Contract
MLS # 6783957
Property Type Single Family Residence
Price Type --
Whole-home remodel completed in 2023! New kitchen, baths, flooring, paint, lighting, windows, exterior doors, side yard, landscaping, and more. This 4 bedroom, 3 bath open concept home sits on a large lot in the Ocotillo area near a walking trail and golf course. The designer kitchen features a large island, gas cooktop, upgraded appliances, and giant walk-in pantry. Relax in the nearby family room or the formal great room. The backyard oasis includes a pergola with 2 TVs, heated pool, covered patio, and plenty of privacy provided by a block wall lined with ficus trees. The oversized primary retreat has a sitting area, dual vanities, soaking tub, walk-in tiled shower and large walk-in closet. Two additional bedrooms are nearby with a dual vanity bath across the hall. The fourth bedroom and third bathroom are at the front of the house for guest privacy or could be used as a home office. The 3-car garage has tons of built-in storage and a refrigerator. Rounding out this gorgeous home is a large laundry room with utility sink, extra closets throughout, and tons of curb appeal. Don't miss this gem!

27651 N 125th Drive Peoria, AZ 85383

$1,100,000 - 4Br/4Ba -  for Sale in Trilogy At Vistancia Parcel C30 Phase 1, Peoria
Open House
$1,100,000
4 Beds
4 Baths
2,837 SqFt
Status Active
MLS # 6773344
Property Type Single Family Residence
Price Type --
MAJOR REMODEL ON GOLF COURSE! STUNNINGLY UPDATED & CUSTOMIZED THROUGHOUT, 2020-2022! ALL THREE A/C UNITS REPLACED. ALLll NEW FLOORING, NEW CABINETS & QUARTZ COUNTERTOPS throughout! COMPLETE KITCHEN REMODEL! CUSTOM WALK-IN PANTRY ADDED. Custom LARGER Island/breakfast bar. Appliances REPLACED. Buffet wall in adjacent dining area reconfigured +more cabinets & beverage refrigerator added. New wood-look wide plank tile floors & new carpeting. 'Spiritus' with 12-ft ceilings, FOUR bedrooms & FOUR baths including the casita. Spacious, elegant great room/sitting room with wet bar REMOVED & step-down filled in. Bathroom in huge primary suite gutted. New shower beautifully done, tub replaced, new toilet, mirrors & lighting. Other three baths have quartz countertops, new cabinetry, toilets & fixtures Irrigation system replaced with new PVC & rain sensor control, TANKLESS water heater & iHome automation installed, interior painted. Formal dining room turned into den/office with closet added in stepdown area. Pergolas added to front & side courtyards, epoxy added to 3-CAR (2+1) garage, most window coverings replaced-some with remote control. A WASH is on one side of the home. The backyard with extended patio, built-in gas BBQ island& firepit OVERLOOKS THE GOLF COURSE. Close proximity to Kiva Club. Most furniture available by Separate Bill of Sale. SO FABULOUS-MUST SEE in person! This could be the Trilogy at Vistancia home you've been waiting for! This home is located in award-winning gated, 55+ Trilogy at Vistancia with 5-star-resort style amenities at the 35,000 SF Kiva Club with indoor & outdoor pools, fitness center, day spa, cafe, billiards, meeting rooms, library, tennis courts, pickle ball, bocce ball, events & a plethora of activities to choose from. Outstanding Gary Panks-designed golf course is woven throughout the original part of the neighborhood. The Mita Club has additional outstanding community amenities. Easy access from Trilogy to the 303, shopping, restaurants, entertainment, Lake Pleasant & Paloma Park, Peoria's huge newest community park.

1975 Flicker Drive Forest Lakes, AZ 85931

$1,100,000 - 3Br/3Ba -  for Sale in Forest Lakes Estates, Forest Lakes
Open House
$1,100,000
3 Beds
2.5 Baths
2,441 SqFt
Status Active
MLS # 6751125
Property Type Single Family Residence
Price Type --
Coming Soon! Discover a rare gem in Forest Lakes Estates with this newly listed single-level custom cabin at 1975 Flicker Drive. This 3-bedroom, 2.5-bathroom home offers 2,441 square feet of thoughtfully designed living space, combining comfort, style and functionality. The property's striking curb appeal is enhanced by a grassy front yard leading to a deck with metal railing, perfect for pet owners. Inside, the great room showcases vaulted tongue and groove ceilings, a stately stone fireplace, built-in bookshelves, and an inviting wet bar. The kitchen is a chef's delight, featuring knotty hickory cabinets, chiseled edge granite countertops, and black stainless steel appliances. Multiple seating options, including spacious countertop seating, a breakfast nook, and a large dining area, make this space ideal for entertaining. The generous primary suite boasts an ensuite bathroom with a walk-in shower, custom rustic vanity with dual vessel sinks, and ample storage. Two additional large guest bedrooms, one with a murphy bed, offer versatility for office or workspace use. Outdoor enthusiasts will appreciate the covered front and rear decks, perfect for enjoying monsoon storms or winter snowfalls. The low-maintenance yard features an auto watering system, horseshoe pit, and fire-pit for stargazing evenings. One of the property's standout features is the immaculate oversized 3-car garage, which includes a designated workshop area with built-in cabinets and countertops. Practical amenities include a 500-gallon owned propane tank, automatic backup generator, and propane forced air furnace, ensuring year-round comfort. Located in a vibrant community with no mandatory HOA, residents enjoy access to trout-stocked lakes and numerous recreational activities. Experience the tranquility of Ponderosa Pines while remaining within reach of Phoenix's amenities. This exceptional property offers a unique opportunity to embrace a cooler climate and an active lifestyle in a picturesque setting.

24024 N 74th Street Scottsdale, AZ 85255

$1,100,000 - 4Br/3Ba -  for Sale in Talara Lot 1-104 Tr A-i, Scottsdale
Open House
$1,100,000
4 Beds
2.5 Baths
2,697 SqFt
Status Active
MLS # 6782000
Property Type Single Family Residence
Price Type --
First Time EVER on the market! Original owner has updated, upgraded, and meticulously maintained this turn-key stunning home! 3 bedrooms + office/den and 2.5 baths! Kitchen and bathrooms updated. Model perfect inside on a fabulous private corner lot with botanical gardens! Heated pool/spa with adjacent covered patio for year-round enjoyment! This is the best priced home in 85255! This convenient location is near it all! Kierland, Scottsdale Quarter, local bistros, golf, pickleball, hiking, and all the reasons Scottsdale is ranked first in the US for job market in 2024 by WalletHub. The city has a 12% job growth rate, and the median annual income is fifth-highest in the country while income and property taxes remain low! Better hurry on this one! Hard to find single level no steps w/3CG!

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