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.

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7102 W Windrose Drive Peoria, AZ 85381

$585,000

5 Beds

3 Baths

3,532 SqFt

Status Active

MLS # 6721103

Property Type Single Family Residence

Price Type --

SELLER OFFERING CONCESSIONS! Welcome to this modern home nestled on a large corner lot with an RV GATE offering 5 bedrooms & 3 full-sized bathrooms, & a secondary owner's suite in the basement. The main level features 3 bedrooms, including the master bedroom upstairs with walk-in closets. REMODELED bathrooms and a laundry chute to enhance the comfort & functionality of the home. Natural light shines through plantation shutters, creating a bright atmosphere. The basement adds 2 bedrooms, a WET BAR, & a full-sized bathroom to be used as a guest room or for entertaining extended family members. Outside, the backyard is a serene retreat with mature greenery providing privacy & a perfect backdrop for relaxation or outdoor activities.

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3161 W Frankfurt Drive Chandler, AZ 85226

$585,000

4 Beds

2 Baths

2,024 SqFt

Status Active

MLS # 6760217

Property Type Single Family Residence

Price Type --

This beautiful one-level home exudes charm and comfort with its expansive open floor plan and high ceilings, creating a bright and airy atmosphere throughout. Recently updated with fresh paint inside and out, along with updated carpets. The master suite is a true retreat, featuring a full spa-style bathroom with a soaking tub and walk-in shower—perfect for unwinding. The outdoor living area is equally impressive, boasting a sparkling pool and an extended patio, offering plenty of space for lounging, dining, and entertaining. Whether you're hosting a barbecue or enjoying a quiet evening by the pool, this home provides the perfect blend of indoor and outdoor living. Don't miss your chance to make this exceptional property your own!

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22740 N 74th Lane Glendale, AZ 85310

$585,000

4 Beds

2 Baths

2,242 SqFt

Status Active

MLS # 6748677

Property Type Single Family Residence

Price Type --

Situated on a great lot in the community of Hillcrest this 4 bedroom 2 bath home has everything you are looking for. Great curb appeal with new exterior paint in 2021. Step inside to beautiful inlaid tile in neutral colors, large open living room with art niches, vaulted ceilings and bright open windows. Open kitchen with plenty of cabinet and counters space, kitchen island and great spot for a dining table - all over looking the cozy family room. Nice primary bedroom with ensuite bath featuring a step in shower, soaking tub and dual vanities. Beautiful back yard with large covered patio, sparkling pool/spa with rock accents, grassy area, and mature landscaping. New roof in 2017; New heat pump/AC in 2018; New water heater 2023. No neighbors behind you. Low HOA! So much to love!!

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11410 N 50th Lane Glendale, AZ 85304

$585,000

5 Beds

3 Baths

2,782 SqFt

Status Active

MLS # 6755548

Property Type Single Family Residence

Price Type --

Beautiful Former Model Home...Inviting 5 bedroom, 3 full bathrooms! Real wood plantation shutters, recess lighting, 8 foot doors and closets, 5 inch base boards throughout home. Gorgeous kitchen w/ white cabinets, stainless steel appliances, granite counter top, and an island w/ a breakfast bar. Spacious primary bedroom w/ large walk in closet, double sinks w/ subway tiled walk in shower. Primary bedroom PLUS 2 additional bedrooms and another bath downstairs! Large loft, 2 more bedrooms and a bath upstairs. Energy efficient spray foam insulation keeps electric bills low. Laundry room w/ sink and custom cabinets downstairs. Dreamy backyard showcases a covered patio, pavers, built-in BBQ, a fire pit, & an enticing pool for year-round entertainment! A MUST SEE!!

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3706 S Cottonwood Drive Tempe, AZ 85282

$585,000

4 Beds

2 Baths

1,669 SqFt

Status Active

MLS # 6768193

Property Type Single Family Residence

Price Type --

Welcome to this beautifully updated 4-bedroom, single-story home with a 2-car garage and no HOA! Recently renovated within the last 5 years, including a new A/C unit, this home features hard floors throughout and an open-concept kitchen with granite countertops. The exterior boasts fresh paint, a low-maintenance yard, and a sparkling PebbleTec diving pool. The spacious covered patio is ideal for entertaining. Conveniently located near shopping, dining, entertainment, the 101/60 freeways, and Ehrhardt Park. This home is the perfect blend of style, comfort, and location!

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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.

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514 E Orion Street Tempe, AZ 85283

$585,000

3 Beds

2 Baths

2,032 SqFt

Status Active

MLS # 6767891

Property Type Single Family Residence

Price Type --

Brand New Full remodel! 3-bedroom, 2-bath home in the desirable Tempe area with a private pool! This property features a brand new kitchen with a huge kitchen island that will keep everyone in together, perfect for casual dining or entertaining guests. All of the ceilings have been raised with new flush mount LED ceiling lights, Brand new doors and hardware, Brand New Windows, Brand New bathrooms with New vanities! The additional extension of the back of the house with a corner made of glass keeps you cool while enjoying full view of those in the pool! The outdoor space boasts beautifully updated low water landscaping, providing a serene setting for relaxation by the pool. Keep your cars out of the heat with the two car garage. It also has a very large laundry/craft room. Don't miss out

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4077 S Sabrina Drive Unit 71 Chandler, AZ 85248

$585,000

4 Beds

3 Baths

1,775 SqFt

Status Active

MLS # 6768414

Property Type Townhouse

Price Type --

Welcome to this stunning home in the Echelon At Ocotillo Community in South Chandler. This end unit boasts an abundance of natural light and windows creating a bright and inviting atmosphere. Well laid pavers in the front patio make it a great place to sit and watch the sunset. The gourmet kitchen includes quartz counter tops, new upgraded LG smart appliances with refrigerator connected to the RO for water, regular ice and craft ice spheres, plus lower kitchen cabinets & pantry with convenient pull outs. Smart home system with ring doorbell, programmable thermostats and smart garage door opener. One bedroom and full bath on the first level, three bedrooms and two bath rooms on the second level. Walk-in shower in master bathroom. Additional features, ceiling fans, steel security front door, full driveway with two car garage. Community amenities include a playground , gorgeous community pool and spa for your enjoyment. Don't miss out on the opportunity to make this house your new home.

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7807 E Mckinley Street Scottsdale, AZ 85257

$585,000

4 Beds

2 Baths

1,590 SqFt

Status Active

MLS # 6768199

Property Type Single Family Residence

Price Type --

It's just a short drive to Old Town, shopping, dining, and entertainment. Step inside this beautifully decorated home featuring wood-look floors and an inviting great room bathed in natural light. The sleek kitchen is a culinary delight, with abundant cabinets, stainless appliances, a stylish tile backsplash, ample counter space, and a convenient breakfast bar. Retreat to the main suite, which offers direct access to the serene backyard, a private bathroom with stylish tiles, and a spacious walk-in closet. The backyard offers a covered patio, artificial turf, and plenty of space for fun barbecues and gatherings. Within walking distance of the Salt Cellar, McKellips Lake, and Scottsdale parks. Don't miss this opportunity! Make it yours today!

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5831 W Pine Cove Prescott, AZ 86305

$585,000

3 Beds

2 Baths

2,057 SqFt

Status Active

MLS # 6772452

Property Type Single Family Residence

Price Type --

Welcome to this 3-bedroom, 2-bath home tucked away on a serene, pine-covered .93 acre lot in Highland Pines. Offering 2,057 sq. ft. of living space, this mountain retreat features a great room with soaring ceilings, rustic wood accents, and a cozy wood-burning stove. The dining room's wall of windows provides breathtaking views of the surrounding pines. Step outside onto the deck to take in the panoramic scenery. Additional amenities include a one-car garage, asphalt driveway, brick paver paths, and a fenced dog run. This home is truly a peaceful getaway in the Pines with modern comforts!

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1354 W Nido Avenue Mesa, AZ 85202

$585,000

4 Beds

2.5 Baths

2,616 SqFt

Status Active

MLS # 6769367

Property Type Single Family Residence

Price Type --

Welcome to your dream home in sought after community of Dobson Ranch!! This beautifully designed 4-bedroom residence offers a perfect blend of comfort and style, ideal for those seeking spacious living with community amenities. As you step inside, you'll be greeted by an inviting open floor plan that seamlessly connects the living, dining, and kitchen areas, creating a warm atmosphere for gatherings and entertaining. This home provides trending designs with remodeled bathrooms, remodeled kitchen, and new LVP flooring throughout the home. Dobson Ranch is a sought after Southeast Valley community boasting 1 of the best municipal golf clubs in the City and this home Just doors away from the Dobson Community La Casita rec Center. HVAC 2023, Roof 2010.

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2544 W Knowles Avenue Mesa, AZ 85202

$585,000

3 Beds

2.5 Baths

2,106 SqFt

Status Active

MLS # 6771836

Property Type Single Family Residence

Price Type --

Welcome to your dream home in the heart of Dobson Ranch! This beautifully updated residence is ready for its new owners & features an impressive backyard oasis, complete with a lush ficus hedge, low maintenance turf, and a delicious orange tree. Step inside to discover a versatile den that serves as the perfect flex space—ideal for a craft room, office, media room, utility area, or guest room. The heart of the home is the stunning kitchen, completely remodeled in 2018 to create an open floor plan that doubled its size. Enjoy modern conveniences, including motion-detected under-cabinet lighting that illuminates your space as you descend the stairs. Recent upgrades include a complete ductwork overhaul in 2024, ensuring optimal airflow throughout the home. Nestled on an oversized lot in a peaceful half cul-de-sac, this property features RV gates on both sides, leading to two large concrete pads-perfect for storage, parking, or additional outdoor activities. The driveway also accommodates a third slab, complemented by a charming paver walkway. The extended-length garage provides direct access to the side yard. Dive into relaxation with the large diving pool, and enjoy evenings on the covered patio overlooking the north-facing yard, where you can gather around the firepit. Pool equipment is discreetly stored in the side yard for your convenience. Experience the vibrant Dobson Ranch community, complete with miles of scenic walking paths along the lake and golf course; 3 community pools, and engaging events throughout the year. Enjoy tennis & pickleball courts, a splash pad, and a rec room available for private rental. Explore a variety of clubs for hobbies ranging from dance and writing to hiking and cards-there's something for everyone! For more information, visit Dobson Ranch HOA for community publications like the Ranchers' Roundup. Golf enthusiasts will appreciate the recent upgrades at Dobson Ranch Golf Course, including a cutting-edge Inrange ball tracking driving range, on-course food ordering, a 9-hole putt-putt course which is free for kids, a restaurant and bar, and numerous leagues and clinics.

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