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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20377 W Terrace Lane Buckeye, AZ 85396

$583,500

4 Beds

3 Baths

2,725 SqFt

Status Active

MLS # 6753236

Property Type Single Family Residence

Price Type --

This impeccably maintained 4 bedroom 3 bathroom home is located in the heart of the highly sought after Verrado community. Verrado boasts championship golf course, community facilities such as pool, community center, full gym, tennis, pickle ball courts., countless hiking paths and trails for all levels of hikers, the now famous stairs of Verrado, Main street area with restaurants, grocery store, coffee shop, and more. The interior of this home includes custom 2 tone paint, gourmet kitchen with staggered 42'' upper cabinets with crown molding, granite counters, stainless steel appliances, huge walk-in pantry, abundant storage through-out, 8ft interior doors, 10ft flat ceilings, private courtyard off dining room, huge owners suite w/en-suite bath including dual vanities, walk-in shower... and separate soaking tub, very large walk-in closet, there is a separate bedroom and full bath that is perfect for an in-law or guest suite. Well appointed backyard with fruit trees, grass area, paver walking paths and lounging area.

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28958 N 174th Lane Surprise, AZ 85387

Open House

$583,046

3 Beds

2.5 Baths

2,488 SqFt

Status Active

MLS # 6784946

Property Type Single Family Residence

Price Type --

Ready Jan/Feb 2025! Fantastic builder incentives w/preferred lender. Brand-new home in hidden oasis, nestled on an 8,190sf homesite with 13ft between neighbors for added privacy. This thoughtfully designed 1-story home features 3 beds + flex space, 2.5 baths, and 3-car tandem garage. Enjoy a layout with clear backyard views, perfect for entertaining or unwinding. The chef-inspired kitchen includes a large island, quartz countertops, 42'' upper cabinets, a wall oven/micro combo, cushion-close drawers, and walk-in pantry. Spacious dining and living areas create an inviting atmosphere. Each bedroom offers a walk-in closet, while the flex space adapts to your needs - office, media hub, gym, or playroom. The primary suite boasts a tiled shower and walk-in closet.

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16873 W Fetlock Trail Surprise, AZ 85387

$582,997

5 Beds

3 Baths

3,241 SqFt

Status Active

MLS # 6766532

Property Type Single Family Residence

Price Type --

On the hunt for a new home? Here's a gorgeous and completed home in the heart of Sunrise. Don't wait for the builder - move in ready now! Very spacious Wrightson plan. This home is gorgeous and perfect for buyers looking for a highly upgraded kitchen and a large lot with 900 sq ft of gorgeous pavers waiting for you to entertain. Buyers spared no expense with the upgrades in the home - Soft closing drawers, smart ceiling fans, faux wood blinds, oversized pantry, coffee station option added, smart home technology, stone front elevation, double sized patio, double glass sliding doors, just to name a few. Assumable FHA current loan if buyer can meet the loan qualifications required to assume. This floorplan is no longer available, and home is almost new - don't miss out!

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3216 S Piedra Avenue Mesa, AZ 85212

New

$582,990

5 Beds

3 Baths

2,233 SqFt

Status Active

MLS # 6786471

Property Type Single Family Residence

Price Type --

A collection of brand-new single-family homes located in the master-planned community in Mesa, AZ. The community feeds into the highly rated Gilbert Public School District, making this an ideal place for growing households. There are many onsite amenities at the masterplan everyone will enjoy, including a swimming pool, basketball court, pickleball court, playground and picnic area. Commuters have easy access to Loop 202 and Phoenix-Mesa Gateway Airport for travel accommodations. This beautiful home features our platinum package including Sonoma Maple Linen cabinets and quartz countertops. Super luxury 7 x 22 plank tile flooring. A public report is available on the Arizona Department of Real Estate website.

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20625 S 228th Place Queen Creek, AZ 85142

$582,990

4 Beds

3 Baths

2,234 SqFt

Status Active

MLS # 6764438

Property Type Single Family Residence

Price Type --

''The Sunflower floorplan is ideal for modern living, featuring an expansive kitchen with a large island, pantry, and generous dining and Greatroom areas, perfect for entertaining guests or enjoying quality family time. Step into this stunning quick move-in home, offering a thoughtfully designed 2234 sqft layout with 4 bedrooms, a guest retreat, 3 full bathrooms and 2.5 car garage. The home radiates elegance with finishes from the Coastal Collection, showcasing 6 x 36 Vicinity Natural plank tile floors in the main living areas, plush carpeting in the bedrooms, and stylish 42'''' Fairview White shaker cabinets adorned with polished Chrome hardware. The kitchen is truly a showstopper, featuring Della Terra Quartz - Crisp Stria countertops and Marazi Zellige Cielo 4x4 Brick Patterned tile backsplash, creating a seamless blend of luxury and functionality. Additional highlights include 8' doors throughout, adding to its refined appeal. The spacious Greatroom is accented by a 4-panel sliding glass door that seamlessly transitions to the covered patio and backyard, making it perfect for embracing indoor-outdoor living. This home is fully equipped with stainless steel appliances, including a gas range, microwave, dishwasher, and soft water loop. This Sunflower plan combines thoughtful design with elegant details, creating an inviting and meticulously finished space that is ready to welcome you home. This home is located across the park and is on a larger homesite.

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16699 W Saguaro Park Lane Surprise, AZ 85387

$582,990

4 Beds

3 Baths

2,545 SqFt

Status Active

MLS # 6770961

Property Type Single Family Residence

Price Type --

Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Gardengate floorplan offers 4 bedrooms, 3 baths, a garage extension, and 8' interior doors. Notable features include built-in appliances, granite kitchen countertops, a gas stub in the kitchen, a backyard perfect for BBQs, and a gas dryer connection in the laundry.

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3752 E Terrel Street San Tan Valley, AZ 85140

$582,990

4 Beds

3 Baths

2,649 SqFt

Status Active

MLS # 6776075

Property Type Single Family Residence

Price Type --

Popular Trillium plan features a full guest suite with own private entrance. This home is situated in the amenity rich community of Bella Vista Farms. Residents enjoy an amenity-rich lifestyle with exclusive access to an onsite swimming pool, picnic area, splash park, playground, basketball court, volleyball court and greenbelt. The local area is host to the San Tan Regional Park, where locals enjoy biking, hiking, horseback riding and more. A public report is available on the Arizona Department of Real Estate website.

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17727 W Carol Avenue Waddell, AZ 85355

Open House

$582,990

4 Beds

3.5 Baths

3,222 SqFt

Status Active

MLS # 6772984

Property Type Single Family Residence

Price Type --

This Gorgeous NEW home has so much to offer! Primary bedroom on the 1st floor 3,222 square feet, 4 bedrooms, 3.5 bathrooms, loft, media room, a 3 car tandem garage on a North/south corner lot! This home features 36'' burlap shaker cabinetry, 18x18 tile, a large kitchen island, quartz counter tops, and 9' ceilings throughout. It also includes a soft water loop, dual pane low-E windows, multi-zone thermostat, window coverings and a smart home system. The exterior features front desert landscaping, a covered patio and generous backyard. Conveniently located off the 303, this community is near Costco, Safeway, and shopping. **Finishes may vary from sample photos and virtual tour.

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4477 N 200th Lane Buckeye, AZ 85396

$582,856

3 Beds

2.5 Baths

2,569 SqFt

Status Active

MLS # 6776603

Property Type Single Family Residence

Price Type --

KITCHEN: Painted Gray Cabinetry and tile backsplash, Gas GE Profile 36'' stainless steel Cooktop with wall oven, Quartz Countertops, Extended Island, Box-in for 36'' refrigerator. FLOORING: 6X36 Wood look and upgraded carpet & pad. INCLUDED OPTIONS: Spanish exterior, Bonus Room, Super Laundry Room and Pre-plumb for soft water loop. Stain Nickle door hardware with 6 panel Rockport doors.

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6233 W Mescal Street Glendale, AZ 85304

$582,500

5 Beds

3 Baths

2,444 SqFt

Status Active

MLS # 6760532

Property Type Single Family Residence

Price Type --

The search is finally over! This delightful residence boasts a 3-car garage and a well-kept front yard. Fall in love with the inviting open layout highlighting vaulted ceilings, a soothing palette, skylights that bathe the space in natural light, and attractive wood-look flooring. You'll also find a cozy family room downstairs, including a warm fireplace for relaxing evenings! The kitchen has granite counters, abundant white shaker cabinets, a stylish tile backsplash, recessed lighting, stainless steel appliances, a handy pantry, and an island with a breakfast bar for casual dining. The main bedroom offers an ensuite with dual sinks and a walk-in closet. The backyard features a covered patio, a firepit with seating areas, and a refreshing pool for endless summer fun. Make this gem yours!

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15963 W Montana De Oro Drive Surprise, AZ 85387

$582,436

3 Beds

3 Baths

2,229 SqFt

Status Active

MLS # 6721719

Property Type Single Family Residence

Price Type --

New home ready for immediate occupancy! This single level 2229 SF single level 3 BR, plus den 3. BA home is located on a north south facing home site. Surrounded by single level homes, no 2 stories. Exciting included features include upgraded cabinets, upgraded Quartz tops, tile Kitchen backsplash, plank tile on the floors, 10' ceilings, 8' interior doors, 3 car garage, gourmet kitchen, garage service door, tank less water heater, landscape credit, and so much more. Neighborhood also includes, tree lined streets, Certified Energy Star and Indoor Air Plus for more energy savings.

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4198 N Spyglass Drive Florence, AZ 85132

$582,000

2 Beds

2 Baths

1,989 SqFt

Status Active

MLS # 6701840

Property Type Single Family Residence

Price Type --

Come and see this beautifully upgraded home with Stunning views on the 1st fairway of the Poston Butte Golf course in Sun City Anthem. This home has SOLAR for low energy bills Enjoy two large bedrooms, two baths and a large den complete with French doors. Hunter Douglas window treatments and ceiling fans in all rooms. Enjoy a gorgeous chefs kitchen with gas range, upgraded cabinets and granite countertops. The master bath has an oversized walk-in shower with stunning custom tile, beautiful tile flooring in all main living spaces with upgraded carpet in bedrooms. A gorgeous outdoor travertine patio gives you a spectacular golf course view, complete with lovely desert inspired landscaping, garden lighting and motorized sunshades! Enjoy the beautiful view and AZ weather all year round. There is a Golf Cart garage, complete with storage area, shelving and wall slat hanging storage system with upgraded additional LED lighting. There is also a whole house RO system and water softener, and tankless gas hot water heater. This home has a freshly painted exterior as well! Located in a wonderful community with numerous amenities, there will never be a lack of activities to participate in! Golf, Pickle Ball, tennis, biking, fitness center, pools and spas, bocce ball, clubhouse and restaurant are all just steps away! Come for a visit and stay for a lifetime! See you soon!

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