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

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

Listing types.

For Sale

For Rent

Land

Multifamily

Commercial

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Distressed

Open House

Location Search Nearby

BedsAny1+2+3+4+5+6+

BathsAny1+2+3+4+5+6+

Price MinAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Price MaxAny$500$600$700$800$900$1,000$1,100$1,200$1,300$1,500$1,600$1,700$1,800$1,900$2,000$2,250$2,500$2,750$3,000$3,250$3,500$3,750$4,000$4,500$5,000$5,500$6,000$6,500$7,000$7,500$8,000$8,500$9,000$9,500$10,000

Advanced Options

Property TypeAnyApartmentManufactured HomeSingle Family ResidenceTownhouseTwin Home

School District

Address, MLS# or Keyword

Home SizeAny600 ft2800 ft21,000 ft21,200 ft21,400 ft21,600 ft21,800 ft22,000 ft22,200 ft22,400 ft22,600 ft22,800 ft23,000 ft23,500 ft24,000 ft24,500 ft25,000 ft25,500 ft26,000 ft2

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Neighborhood

Address, MLS# or Keyword

Location Search Nearby

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

School District

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

Location Search Nearby

Lot SizeAny1+ Acres2+ Acres3+ Acres4+ Acres5+ Acres6+ Acres7+ Acres8+ Acres9+ Acres10+ Acres20+ Acres30+ Acres40+ Acres50+ Acres

Price MinAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Price MaxAny$50,000$100,000$150,000$200,000$250,000$300,000$350,000$400,000$450,000$500,000$600,000$700,000$800,000$900,000$1,000,000$1,100,000$1,200,000$1,300,000$1,400,000$1,500,000$1,600,000$1,800,000$1,900,000$2,000,000$2,250,000$2,500,000$2,750,000$3,000,000$3,250,000$3,500,000$3,750,000$4,000,000$4,500,000$5,000,000$6,000,000$8,000,000$10,000,000$15,000,000

Advanced Options

Address, MLS# or Keyword

YearAny2024+2023+2022+2021+2020+2019+2018+2017+2016+2015+2014+2013+2012+2011+2010+2009+2008+2007+2006+2005+2004+2003+2002+2001+2000+1999+1998+1997+1996+1995+1994+1993+1992+1991+1990+1980+1970+1960+1950+1940+1930+

View As: Thumbnails List

Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

5595 W Mercer Lane Glendale, AZ 85304

$585,000

5 Beds

3 Baths

3,348 SqFt

Status Active

MLS # 6784014

Property Type Single Family Residence

Price Type --

Welcome to your dream home! Nestled in a tranquil cul-de-sac with no HOA, this property has everything you need and more. Step inside and be greeted by an open-concept entertaining floor plan with vaulted ceilings and new LED can lighting that illuminates every corner with warmth and style. The fully remodeled kitchen is a chef's delight, featuring brand-new cabinetry, modern appliances, and a convenient pot filler that makes cooking a breeze. New laminate flooring flows seamlessly throughout the home, offering both beauty and durability. Cozy up by the fireplace in the spacious living room, or enjoy the peaceful view of the mature trees from the large windows with elegant plantation shutters. You'll find ample storage space throughout, perfect for keeping things organized and tidy. Outside, the good-sized yard is a blank canvas just waiting for your creative touch. Imagine the possibilitiesa garden, play area, or custom outdoor oasis. With a lemon tree ready to provide fresh fruit, you'll love the potential this space offers for entertaining and relaxation. This beautifully updated home is move-in ready and waiting for you to make it your own. Don't miss outon this home!

View Property

2355 N Cabot -- Mesa, AZ 85207

$585,000

3 Beds

2 Baths

1,738 SqFt

Status Active

MLS # 6780778

Property Type Single Family Residence

Price Type --

Desert mountain views await you in this desirable gated community in NE Mesa. Great schools, easy access to freeways, shopping, hiking, biking, and water sports. This 3br plus office/den is detailed with beautiful Travertine stone flooring in all but 3 bedrooms with new carpet. Brand new quartz countertops, sinks and faucets in kitchen and both bathrooms along with refinished cabinets. New window blinds throughout. Six inch crown molding top and bottom in all rooms. Features living/dining room plus family room open to kitchen. Enjoy this corner lot with a lovely heated pool and spa with easy maintainable landscape. Garage with custom floor to ceiling cabinets, work bench and epoxy flooring.

View Property

22422 N 99th Lane Peoria, AZ 85383

$585,000

3 Beds

2 Baths

1,867 SqFt

Status Active

MLS # 6762267

Property Type Single Family Residence

Price Type --

This beautiful 3-bedroom, 2-bathroom home in a sought-after community boasts recent updates and a welcoming atmosphere! Featuring updated bathrooms in 2022, this home offers modern convenience. The great room with an open floor plan is complemented by a cool paint tone, creating a cozy ambiance. The interior showcases a beautiful combination of wood-like tile and soft carpet in all the right places. The split primary bedroom offers a walk-in closet for added comfort. The kitchen includes a new dishwasher, pantry, granite countertops, kitchen island, and a breakfast bar, along with plenty of cabinets for storage. Outside, the covered back patio overlooks a low-maintenance private yard with brand new artificial turf, gravel, and trees. Community amenities include a playground, tennis courts, pool & spa, and much more!

View Property

8445 E Aloe Vera Circle Gold Canyon, AZ 85118

$585,000

2 Beds

2 Baths

2,340 SqFt

Status Active

MLS # 6779682

Property Type Single Family Residence

Price Type --

Welcome To This STUNNING & Completely REMODELED&REDONE GEM Filled w/High End Finishes & Gorgeous Surprises Around Every Corner!Entry Charms w/Porcelain Plank Floors, Designer Accent Paint&Vaulted Ceilings Which Beckon Through 2 Immaculate Kitchen Feat. Granite Slab Counters, Chocolate Glaze Cabs w/Brown PinStripes, Quartz Sinks,Cstm Travertine BackSplash, Cstm Lighting&Beamed Ceiling, Highly Upgr.Stainless App Package (F/W/D ALL Incl)&Brushed Nickel Hardware!Updated Baths Feat. Granite, Quartz, Brass&Mother Of Pearl Hardware, Cstm Fixtures&More! Mstr Suite Feat. Ext. Att.Sitting Room, Beautiful Barn Door Wall 2 Patio, Cstm Shower&Tub w/Water Proof ShipLap Wall! Ext.Patio Incl. Cstm Wrought Iron Gate,No Homes Directly Behind&Artificial Turf Sideyard!New Paint 2024!INCREDIBLE Front MTN VWS!

View Property

13518 W Sola Drive Sun City West, AZ 85375

$585,000

2 Beds

2 Baths

2,095 SqFt

Status Active

MLS # 6782063

Property Type Single Family Residence

Price Type --

The Encanto is a favored floor plan in Corte Bella Country Club. Uniquely designed for that entertainer's lifestyle. This home has so many upscale extras that you will enjoy. Features include designer front door, updated lighting, soft welcoming paint, smooth surface tiled flooring, 10' ceilings, great room, shutters, recessed lighting, 8 ft. Island in kitchen & 2 bedrooms plus Den. Split floorplan. Primary bathroom has a remodeled walk-in shower, oversized walk-in closet & two sinks. Great room includes cozy fireplace & open view into kitchen. The kitchen has high-end cabinets, granite counters, induction cooktop, breakfast bar & casual dining. Extended length garage. Exterior features include fenced bk yard w/covered patio, front covered patio & centrally located w/in Corte Bella.

View Property

4722 N 76th Place Scottsdale, AZ 85251

$585,000

2 Beds

2 Baths

1,806 SqFt

Status Active

MLS # 6767821

Property Type Townhouse

Price Type --

Beautiful 2 bedroom 2 bath single level charmer in highly sought after Historic Villa Monterey, Old Town Scottsdale's most desirable 55+ community. This home is truly special! Sitting on a highly desirable corner lot, right next to a green belt and across from the architecturally pleasing water fountain. Private front patio is a hidden gem for friendly gatherings; mature landscape, grape vines, and old world feel pavers. Interior is welcoming with hardwood flooring and extended livings space. The faux fireplace adds ambiance. Primary bedroom is customized with sought after walk in closet, side windows, and updated bath. Beautiful solid wood doors. Delightful backyard with custom seating accommodates sleeping under the stars! Small workshop/shed has electric for the hobbyist. Newer Trane 5 ton AC, roof recently recoated. Fresh interior paint. Villa Monterey is zoned Historic, and pride of ownership shows throughout this charming subdivision. Old style lamplights line the streets adding a real ''hometown'' neighborhood feel. Enjoy community pool and spa gatherings. Follow the canal path into Old Town for dining, cocktails, etc. Close to art galleries, spring training, car shows, Hayden Park and waterway; all the wonderful amenities of Scottsdale Living.

View Property

17025 E De Anza Drive Fountain Hills, AZ 85268

$585,000

3 Beds

2 Baths

1,868 SqFt

Status Active

MLS # 6784186

Property Type Single Family Residence

Price Type --

Bring your best ideas to make this home yours. Excellent floor plan with an A/C vented Arizona Room. Double Door Entry leads to Living and Dining Rooms with vaulted ceilings and a view of the well vegetated & enticing back yard. Your choice, to bedrooms on the right or the Kitchen activity area on the left. A spacious open kitchen/breakfast space/family room with fireplace will be your family gathering place. Laundry & 2 car garage (w/Evap cabinets & exterior door) complete the busy side of the home. From the entry to the right will find a spacious main bedroom with walk-in closet & bath with double sinks, separate shower/ tub and private toilet area. BD 2 offers its own door to the guest bath. BD 3 is located at the front of home. Corner lot, front steps w/ rail + handicap acces

View Property

6351 W Saddlehorn Road Phoenix, AZ 85083

$585,000

4 Beds

2.5 Baths

2,542 SqFt

Status Active

MLS # 6783990

Property Type Single Family Residence

Price Type --

Exceptionally clean and lovingly maintained poolside home with 4 BR and 2.5 BA. HVAC 2020. Granite counters in kitchen and baths, travertine backsplash and FP accents. Freshly painted inside and out with new Lighting and Fans, New Carpet. Stay and play in your own backyard resort play pool (pool fence available) and mostly private. Look at the size of the bedrooms! 28x15 master has sitting room and lux bath with soaking tub and sep shower. Easy access to shopping, great restaurants, hiking and commute by way of 303, 101 and 17.

View Property

4810 N 74th Place Scottsdale, AZ 85251

$585,000

2 Beds

2 Baths

1,236 SqFt

Status Active

MLS # 6767229

Property Type Townhouse

Price Type --

MODERN CANAL RETREAT Tucked into the heart of Scottsdale's historic district, this gorgeous 2-bedroom, 2-full bath home in coveted Villa Monterey 55+ community is a true gem. Step into a light & bright sanctuary that exudes warmth & comfort. Formal dining area invites you to host intimate gatherings, while the completely updated interior flows effortlessly into the serene backyard with private canal access. With over $130,000 in upgrades, every corner of this home has been meticulously crafted. From the new Luxury Vinyl Plank (LVP) floors to the upgraded modern kitchen, walnut interior doors, no detail has been overlooked. New roof (2019), HVAC (2023), appliances and more all recently replaced. Open-Concept Closets in both bedrooms. Front-facing kitchen with new modern pull out cabinets, new LVP plank (6x9) flooring, and smooth texture walls throughout. Enjoy the fully upgraded, spa-like bathrooms that include a deep soaking bathtub & walk-in shower. Coveted side yard and laundry room are added bonuses. Well designed, low maintenance landscaping is easy to maintain. Community Pool & Spa, Located directly on the canal, this property is minutes away from Old Town Scottsdale, Spring Training facilities, shopping, restaurants, art galleries, and the renowned Talking Stick Resort, the possibilities for entertainment & adventure are endless. Walk out your back gate and explore the vibrant community, stroll along scenic walking and biking paths, or simply bask in the Arizona sunshine.

View Property

1711 Leisure World -- Mesa, AZ 85206

$585,000

3 Beds

2 Baths

2,011 SqFt

Status Active Under Contract

MLS # 6775404

Property Type Single Family Residence

Price Type --

AMAZING, Sparkling POOL and Resort Style Backyard, perfect for Entertaining. Enjoy this Beautiful FULLY REMODELED 3 Bedroom, 2 Bath, 2 Car Garage Home! The Delightful Pavered Entry and Patio are a welcome greeting! Enter into an Open and Spacious Great Room with vaulted ceilings and Fantastic Feature Wall with Fireplace. Your Dream Kitchen w/large island, quartz countertops, induction stove, under the counter microwave & much more! The Airconditioned Arizona Room is perfect for an office, game room or craft room with views to the pool! Newer Windows, New Front Door and Sliding Glass Doors, New Paint Interior and Exterior. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, tennis, pickle ball, swimming pools, fitness center & much more!

View Property

1018 E Acoma Drive Phoenix, AZ 85022

$585,000

3 Beds

3 Baths

2,218 SqFt

Status Active Under Contract

MLS # 6781431

Property Type Single Family Residence

Price Type --

Fall in love with this two-story home in Phoenix that effortlessly combines comfort and style! Inside, you'll find an inviting living room, an open den/office, and a formal dining room complete with a cozy fireplace. The kitchen displays plenty of cabinetry, built-in appliances, fluorescent lighting, and a breakfast bar. Sizable primary boasting plush carpet, direct outdoor access, a walk-in closet, and a private ensuite comprised of dual sinks and a make-up desk. As a bonus, this house includes a 2nd main bedroom with balcony access and a bathroom. Enjoy mountain views from the balcony. Spacious backyard showcases a covered patio, storage shed, and a sparkling pool for year-round enjoyment. New A/C and garage door installed this year! Don't miss this one-time opportunity

View Property

19844 W Heatherbrae Drive Litchfield Park, AZ 85340

$585,000

3 Beds

3 Baths

2,286 SqFt

Status Active Under Contract

MLS # 6781151

Property Type Single Family Residence

Price Type --

Welcome to your Dream Pool Home in the highly sought-after community of Verrado! Beautifully designed and meticulously upgraded, featuring a kitchen that any chef would envy, complete with a remarkable butler's pantry. The open-concept kitchen seamlessly flows into the Great Room and dining area, creating an inviting space perfect for entertaining. The owner's suite serves as a luxurious retreat, boasting dual sinks, a spacious walk-in closet, and a lavish shower. Step outside to discover your own backyard oasis, complete with a sparkling pool and spa—ideal for unwinding or hosting gatherings with friends. Nestled amidst a picturesque neighborhood, 26 miles of hiking/biking trails, community pools, gym, over 80 community parks. Your gorgeous and upgraded ''unicorn'' of a home awaits!

View Property