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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44025 N 44th Lane New River, AZ 85087

New

$599,000

4 Beds

3 Baths

2,823 SqFt

Status Active

MLS # 6821027

Property Type Single Family Residence

Price Type --

Nestled in the master-planned community of Anthem, AZ, this home offers an exceptional blend of comfort and convenience. This stunning single-story home boasts four spacious bedrooms, including two luxurious primary suites—perfect for multi-generational living or private guest accommodations. Situated on a quiet cul-de-sac lot, the home provides peace and privacy while still being close to Anthem's top-tier amenities, including parks, trails, and community center with gym, pool, water park, tennis & pickle ball courts. With an open-concept design, a modern kitchen, and a beautifully landscaped backyard featuring an above-ground spa and easy maintenance yard with artificial turf, this home is ideal for entertaining and everyday living.

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106 N Lariat Way Payson, AZ 85541

$598,995

4 Beds

3 Baths

3,407 SqFt

Status Active

MLS # 6760660

Property Type Single Family Residence

Price Type --

Unbelievable find for UNDER $200 PER SQUARE FOOT! This is a multi-generational house with no HOA, oversized bedrooms, and travertine flooring. You need to see this home! Fantastic 4 bed, 3 bath, 3407 square foot home at the end of a cul-de-sac in a desirable neighborhood within a mile and a half of the high school, middle school, and Rumsey Park. Freshly painted 2-level home with dueling open concept great rooms, suitable for separate living areas or an unbelievable party room. One on the 3-bedroom upper level, with a split floor plan, and one on the lower level, with a bedroom, kitchenette, and 3/4 bathroom. Both levels featuring updated Trex outdoor living areas. Investors welcome! This home offers countless opportunities. Come and see today!

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9374 W Sandstone Mountain Drive Casa Grande, AZ 85194

$598,800

4 Beds

2 Baths

2,425 SqFt

Status Active Under Contract

MLS # 6785934

Property Type Single Family Residence

Price Type --

PAYMENTS AS LOW AS $2100 ! NEW 4 Bedrooms, 2 bathrooms, and a dedicated office, along with a spacious 3-car garage, all set on a full-acre lot in a highly sought-after area just minutes from I-10. Experience the open & inviting layout designed to make the most of every square foot. The kitchen shines with elegant Shaker-style white cabinets, luxurious Quartz countertops, modern stainless steel appliances & pantry. Relax in the bright Great room, which offers flexible options for dining or entertainment. Stylish neutral tile flows through the main high-traffic areas, while cozy carpeting enhances the bedrooms. Retreat to the expansive Primary suite, complete with a primary bathroom featuring a walk-in shower. Other features include fully fenced yard with block walls. Back shady patio and an expansive enclosed back yard with endless possibilities. HOA permits R.V.'s, Boats and other recreational vehicles for a low 30 per month. This treasure is ready for immediate occupancy.

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2226 Fairway Drive Overgaard, AZ 85933

$598,500

3 Beds

2.5 Baths

2,063 SqFt

Status Active

MLS # 6808764

Property Type Single Family Residence

Price Type --

Stunning home in Pine Meadows Country Club Estates! Featuring 3 bedrooms and 2 1/2 baths, the interior boasts custom stone work, peeled pole log accents, and vaulted T&G ceilings. The remodeled kitchen (2020) boasts granite counters, a propane stove, double Jen-Air ovens, and sleek black appliances, perfect for the home chef. The large master suite is conveniently located downstairs with double sinks in the master bath. Guest bedrooms are set up in a Jack and Jill layout. Outside, enjoy the new Trex front and back decks, a spacious .81-acre lot, and a three-car garage. The home also includes a new mini-split cooling unit and a durable metal tile-shaped roof. With its ideal location, stunning design, and modern updates, this home provides both luxury and comfort. Don't miss out!

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10808 W Cottontail Lane Peoria, AZ 85383

$598,497

4 Beds

2 Baths

2,058 SqFt

Status Active

MLS # 6803834

Property Type Single Family Residence

Price Type --

This stunning single-story home is the one you've been waiting for! Boasting 4 bedrooms, 2 baths, and an additional flex room that can be used as an office or a fifth bedroom, this home offers the perfect blend of space and functionality. The open floor plan is highlighted by modern upgrades, including stainless steel appliances, granite countertops, and a luxurious primary suite with a walk-in shower. Enjoy endless hot water with the tankless water heater, ensuring convenience and comfort. Step outside to your private backyard oasis, complete with a custom PebbleTec pool featuring an in-floor cleaning system and UV sanitation, premium artificial turf, and outdoor landscape lighting designed for effortless entertaining. Additional features include professionally installed hanging garage shelves, a full-home water filtration system with a 15-year warranty, and much more. Also included is professionally installed home theater ATMOS surround sound, as well as patio speakers that are wired to your living room wall plate to connect to a receiver. Custom landscape lighting that runs automatically as soon as the sun goes down and shuts off 4-8 hrs later depending on your preference. All eaves and overhangs have been wired with power for christmas lights that run off one switch in the garage thats wifi connected for ease of programming. This smart home also has wifi connected landscape irrigation system that is fully managed by the weather, its truly hands off and can be controlled with your smart phone. All outdoor lights such as coach lights and patio lights are updated with dusk/dawn sensors. RV 30amp plug is also installed on the outside for ease of RV prep. The exterior was updated in 2021 with high quality paint, along with extensive front landscape redesign and installation. This exceptional single-level home with a pool has everything you've been looking for and moredon't miss out, as it won't last long!

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4780 W Flat Iron Court Queen Creek, AZ 85144

$598,432

4 Beds

3 Baths

2,665 SqFt

Status Active

MLS # 6772329

Property Type Single Family Residence

Price Type --

Lovely new 4-bedroom home in Queen Creek, offering a spacious and welcoming floor plan, 3 bathrooms, an attached 3-car garage, and so much more! The Executive Kitchen features double ovens, designer selected backsplash, quartz countertops, a multi panel sliding glass door, and a Blanco Diamond kitchen sink. Other highlights of the home include white cabinets with 42'' uppers, wood look tile and upgraded carpet, and a separate tub and shower with an enlarged tub. The exterior of the home features pavers at the driveway and front porch as well as a gas line to the back patio!

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302 W Oak Avenue Unit 3 Flagstaff, AZ 86001

$598,000

2 Beds

2.5 Baths

1,085 SqFt

Status Active

MLS # 6733268

Property Type Single Family Residence

Price Type --

TO BE BUILT...Welcome to modern living in the heart of Flagstaff - a collection of contemporary detached homes that redefine luxury and convenience. Nestled against the backdrop of the stunning mountains, step into a world where architectural brilliance meets nature's beauty. The community boasts a sleek and contemporary design that seamlessly integrates with the natural surroundings. Plentiful glass allows ample natural light to flood the interiors, creating a harmonious blend of indoor and outdoor living. Clean lines, high ceilings, and thoughtfully designed spaces provide an open and airy atmosphere making each home a sanctuary of modern sophistication. Wake up to the awe-inspiring sight of the mountains right outside your window (Select Lots Only).

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17863 E Paria Canyon Drive Rio Verde, AZ 85263

$598,000

2 Beds

2 Baths

1,543 SqFt

Status Active

MLS # 6778318

Property Type Single Family Residence

Price Type --

Move in ready home located at Trilogy! Be welcomed by the delightful curb appeal showcasing a paver driveway, enclosed front patio, & a 2-car garage w/a 4ft extension for golf cars & service door.(25ftx20) Inside, discover the stunning high ceilings, tile flooring, & soothing palette. The great room features bountiful natural light, an inviting brick fireplace, & backyard access. The eat-in kitchen provides hardwood cabinets w/crown moldings, SS appliances, granite counters, a walk-in pantry, & a center island w/breakfast bar. The main bedroom boasts soft plush carpet & an ensuite with w/dual sinks, sit-down shower, & a walk-in closet. Enjoy the relaxing covered patio in the sizable backyard & host fun gatherings... Take advantage of all the wonderful sights and amenities that this community offers, like the Sports courts, recreational room, Community pool, walking distance to dog parks and lakes & so much more! Don't miss it!

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18752 N Cactus Flower Way Surprise, AZ 85387

Open House

$598,000

3 Beds

2 Baths

1,928 SqFt

Status Active

MLS # 6800543

Property Type Single Family Residence

Price Type --

Here it is just what you were looking for. PRIVACY! The floorplan with split bedroom (BORGATA). NO neighbors behind you with a lovely private pool. It cannot get better than this for privacy. Exterior Painted 2022, Water Softener 2024

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4648 S Emery -- Mesa, AZ 85212

$598,000

4 Beds

2 Baths

2,234 SqFt

Status Active

MLS # 6801872

Property Type Single Family Residence

Price Type --

Large Cul-De-Sac Lot, Double RV Gates and lots of parking for toys. Owned Solar Panels. This stunning home has new flooring, paint, granite kitchen countertops with a large sit up bar, plantation shutters. Stainless steel appliances. Beautiful fireplace just off open kitchen. 4 Bedroom, master has two walk-in closets. Custom pergola with built in BBQ & large wrap bar perfect for entertaining or the ideal spot to enjoy your outdoor space.

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1640 N Sawyer -- Mesa, AZ 85207

$598,000

4 Beds

2.5 Baths

2,184 SqFt

Status Active

MLS # 6803350

Property Type Single Family Residence

Price Type --

Charming 4-bed, 2.5-bath Mesa gem with wood-look flooring, recessed lighting, and a cozy stone fireplace! The gourmet kitchen boasts granite countertops, stainless steel appliances, and a walk-in pantry. Retreat to the luxurious primary suite featuring a gorgeously remodeled ensuite with dual vanities, a soaking tub, an oversized walk-in shower, and a walk-in closet with custom shelving system. The backyard is an entertainer's paradise with a sparkling pool, water feature, and covered patio. Additional perks include a separate work shed, a 2-car garage, and a fantastic location near State Route 202, offering quick access to schools, shopping, dining, and more. Don't miss this perfect blend of style and convenience!

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3554 N Hooper Street Buckeye, AZ 85396

$598,000

4 Beds

3 Baths

2,590 SqFt

Status Active

MLS # 6809172

Property Type Townhouse

Price Type --

This elegant and upgraded 4 bedroom 3 bath home backs up to Hole #4 of Founder's Golf Course. Back gate to access the course whenever you see fit from your relaxing pergola covered back yard with outside fireplace. HOA takes care of the front yard (except court yard), has a community pool a short distance away. Phenomenal mountain views from your back yard and private balcony off of the owners suite with dual sinks, soaker tub and shower, lots kitchen cabinet storage and granite counter tops with bar for gatherings, small office space off the kitchen for those that work from home, cozy fireplace, bedroom or full office downstairs with views to the course, large laundry room and storage, garage has additional ceiling rack storage, Freshly painted interior...You Love to GOLF? This is it!

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