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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33521 N 75th Way Scottsdale, AZ 85266

$2,295,000 - 4Br/3Ba -  for Sale in Winfield Plat 4 Lot 52, Scottsdale
Open House
$2,295,000
4 Beds
3 Baths
3,693 SqFt
Status Active
MLS # 6777485
Property Type Single Family Residence
Price Type --
Perched on the top of a cul de sac in the custom home section of Montesano at Winfield expect VIEWS! Private backyard backs to 75 acre boulder studded Winfield Mountain with expansive front views to the Boulder stack and Black Mountain. Great room living with expansive windows opening to fabulous views of Winfield Mountain. The kitchen features a massive granite kitchen island, tons of cabinets and walk in pantry. Split master bedrooms, 3 car garage with storage area, waterfall feature and exterior fireplace in backyard. The secluded backyard has covered and open patio space. Mountain and City View buyers, DO NOT DELAY! This one is spectacular. Winfield offers a resort style clubhouse including heated comm. pool, fitness facility, aerobics/tai chi, 8 tennis courts(2 clay) &pickleball

3800 E Lincoln Road Unit 42 Phoenix, AZ 85018

$2,295,000 - 4Br/4Ba -  for Sale in Estate Antiqua, Phoenix
Open House
$2,295,000
4 Beds
3.5 Baths
4,332 SqFt
Status Active
MLS # 6782571
Property Type Townhouse
Price Type --
Exquisite Villa in Estate Antigua This fully remodeled home offers it all, a prime location, breathtaking city skyline views with a modern contemporary feel, and privacy. Impeccable designer touches, this home boasts an open floor plan perfect for entertaining. The new gourmet kitchen features stunning quartz countertops, top-of-the-line appliances, custom cabinets, a wine fridge, a breakfast nook, and a spacious island with deep drawers & breakfast bar. The 4th bedroom/ office opens to a private patio. The Family room and Master suite offer exceptional city views. The master bathroom is a serene retreat with dual vanities, a dual custom-tiled shower and a custom wraparound walk-in designer closet. Wow! See More for Complete list of improvements... -Complete remodel -New Roof -New Exterior colored smooth stucco - no painting necessary -New HVAC units and thermostats -New Iron courtyard gate and iron front door installed -New courtyard pavers, paver walkway to street and paver driveway installed -New Coach lights installed outside garage on driveway -New garage cabinets and garage floor coating -Rework of stairwell from main floor to lower to remove walls and add iron railing. To open up main floor floorplan -New window glazing installed throughout -Modifications to South wall to create expanded view windows upstairs and sliding full wall door downstairs leading to newly created lower patio entertainment area. -New flooring throughout -New texture and paint throughout -New lighting throughout, wall fixtures changed and led can lights installed -New wiring added for data and tv throughout -Complete kitchen and dining remodel to create island kitchen. All luxury brand new appliances added, all new cabinetry and quartz countertops. -Complete bathroom remodel of all 3.5 bathrooms -Second toilet room in Master Bath added - creates his/hers -New focal point shower added in Master bath -Closet organizers in all bedroom closets with extensive in Master closet -New Washer and dryer added in laundry room.

5558 E Lafayette Boulevard Phoenix, AZ 85018

$2,295,000 - 4Br/4Ba -  for Sale in Del Ray Estates 7, Phoenix
Open House
$2,295,000
4 Beds
3.5 Baths
3,860 SqFt
Status Active
MLS # 6735220
Property Type Single Family Residence
Price Type --
Welcome to your ARCADIA OASIS designed for LUXURIOUS LIVING. Inside, you'll find a SPACIOUS 3,000+ SQ FT MAIN HOUSE featuring 3 BEDS & 3 BATHS in a highly desirable SPLIT-LIVING DESIGN. The great room & kitchen, with breathtaking views of CAMELBACK & PAPAGO mountains, serve as a gorgeous centerpiece for daily living & EXTRAORDINARY ENTERTAINING. The second family room, alongside MUDROOM/LAUNDRY ROOM offers intimacy & practicality conveniently off the 2-car garage. Enter the PRIVATE PRIMARY SUITE, where tranquil POOL & MOUNTAIN VIEWS invite serenity. The SPA-INSPIRED BATHROOM, featuring a dual vanity along with a separate shower & SOAKING TUB, provides the perfect RETREAT for RELAXATION & REJUVENATION, complemented by a sizable custom WALK-IN CLOSET. Outside, an impressive pergola stands.. tall above all-new pavers & the OVERSIZED DIVING POOL, while the generous GRASS LAWN creates an ideal backyard for lifelong memories of PLAY & LEISURE. Beyond, the 850+ SQ FT DETACHED GUEST HOUSE adds exceptional versatility, complete with 1 BED, 1 BATH, a full kitchen & cozy living spaceperfect for guests, a home office or additional living needs. NEW FEATURES INCLUDE: HVAC, PLUMBING, ROOF, ELECTRICAL, TANKLESS WATER HEATER, WINDOWS, APPLIANCES, REFINISHED SWIMMING POOL, THOUSANDS OF SQ FT OF NEW PAVERS, IRRIGATION SYSTEMS, SOD & STUCCO. DO NOT MISS THE OPPORTUNITY TO OWN YOUR DREAM LIFESTYLE IN THIS EXPANSIVE ARCADIA OASIS ON THE HIGHLY COVETED LAFAYETTE BLVD!

13735 E Columbine Drive Scottsdale, AZ 85259

$2,295,000 - 4Br/3Ba -  for Sale in Scottsdale Mountain, Scottsdale
Open House
$2,295,000
4 Beds
3 Baths
3,192 SqFt
Status Active
MLS # 6732872
Property Type Single Family Residence
Price Type --
Do you want city views? Do you want mountain views? Do you want a completely remodeled home? Well, you just found it and for under $2.5M! This gorgeous home is on a cul-de-sac street with a south facing backyard for city light views. Your view from the front is only the mountain because the mountain is literally across the street! This home is perfect for cozy family night's in, or entertaining friends and neighbors. With the stunning pool and back yard amenities framed by a southern mountain and city lights view - why go any where else? The modern elegence of this home is enhanced by the quality finishes and design. Absolutely nothing was missed, so your new hillside home is ready for you to move into today!

3111 E Indian Ruin -- Payson, AZ 85541

$2,290,000
4 Beds
4 Baths
4,720 SqFt
Status Active
MLS # 6768559
Property Type Single Family Residence
Price Type --
Nestled in the prestigious Rim Golf Club, this stunning custom home offers an unparalleled blend of luxury and breathtaking views from every window. Featuring four spacious bedrooms and four well-appointed bathrooms, the home is designed for comfort and style. The partially finished walkout basement provides ample space for entertainment or relaxation, while the unfinished portion offers a blank canvas, perfect for creating a personal retreat, gym, or additional living space, limited only by your imagination. Surrounded by the beauty of the Mogollon Rim, Granite Dells and Tonto National Forest this home promises serenity and elegance in one of the finest golf communities in Arizona.

12222 N 74th Street Scottsdale, AZ 85260

$2,287,000
4 Beds
3.5 Baths
3,669 SqFt
Status Active
MLS # 6750919
Property Type Single Family Residence
Price Type --
Completely remodeled, this stunning property offers over 3,600 sq ft of luxurious living on a spacious 1/2-acre lot. Enjoy a sparkling pool with an expansive outdoor area, and the freedom of NO HOA. The home features an open floorplan, top-of-the-line appliances, quartz countertops with a waterfall edge, custom lighting, new windows, a Ramada with a BBQ station, and exquisite landscaping. Close to restaurants and nightlife, this dream home is perfectly situated for a vibrant lifestyle. Don't miss your chance to make it yours!

2440 N Maple -- Mesa, AZ 85215

$2,285,000
5 Beds
4.5 Baths
5,625 SqFt
Status Active
MLS # 6707552
Property Type Single Family Residence
Price Type --
Indulge in a masterful blend of LUXURY and FUNCTIONALITY in this METICULOUSLY-CRAFTED CUSTOM ESTATE. Nestled in the privately-gated community of Vista Estancia, one of North Mesa's most coveted neighborhoods, this is a RARE BUYING OPPORTUNITY! Perfectly situated on a .81-acre lot, the home is surrounded by lush irrigated citrus, mature trees and features a paved circular driveway and huge grassy lot. The gorgeous back yard features an oversized north-facing covered patio with built-in speakers, and an EXTRAORDINARY FENCED POOL AND SPA, with ample room for laps, 10' deep for diving, and a stunning rock waterfall and slide. Cantera stone details embellish a high-quality colored stucco finish, and the custom entry door is timelessly elegant. Gracing over 5,600 sf of living space, interior features include limestone & travertine flooring, gorgeous Lincoln casement windows, soaring ceilings, and high-quality fixtures. Boasting the 'PERFECT' FLOOR PLAN,' the layout is appealing for many living situations. A TRUE SPLIT FLOOR PLAN, the Primary Suite occupies a separate wing of the home, with a spacious sitting room, romantic fireplace, and a well-appointed ensuite bath with abundant built-in storage and a spacious walk-in closet. Three guest rooms are in another wing of the home; two with private verandas, walk-in closets and one with an ensuite bath. Beyond the great room and kitchen is a flex space, guest bedroom and full bath with endless possibilities as a MULTI-GEN LIVING SPACE, GAME ROOM, PLAY ROOM or MOVIE ROOM! Formal living and dining create a gracious entertaining space, while the GORGEOUS GOURMET KITCHEN with TIMELESS FEATURES and CLEAN LINES features a huge island, Alder wood cabinetry, built-in refrigerator with sleek wood-paneled doors, dual ovens, gas cooktop and so much more. Open to the EXPANSIVE GREAT ROOM with a view into the back yard and pool, a custom wood built-in entertainment wall and relaxing gas fireplace create an inviting atmosphere. Other notable features of this stunning home include full spray-foam insulation, updated HVAC systems (1 brand new), irrigated citrus trees, a HUGE KITCHEN PANTRY AND STORAGE, a secondary climate-controlled storage room, and gorgeous laundry/utility with cabinets, sink and built-in ironing board. Car enthusiasts will love the over 1,100 sf overheight and extended length garage with new epoxy flooring, and space available to build an additional garage if desired. This fully private lot is situated adjacent to a quiet community park with a playground and a basketball court. Vista Estancia is ideally located near the end of a quiet street with minimal traffic, but is just minutes away from the Loop 202 & Sky Harbor Airport, with easy access to downtown Phoenix, Scottsdale and the Mesa Arts Center. Northeast Mesa is a mecca for some of the best hiking, biking, paddling, fishing, golf and tennis in the Valley, as well as being just an hour's drive from the cool pines of Payson. It just can't get any better than this!

2189 William Palmer -- Flagstaff, AZ 86005

$2,275,000
4 Beds
4.5 Baths
3,525 SqFt
Status Active Under Contract
MLS # 6739906
Property Type Single Family Residence
Price Type --
Welcome to your dream home! Nestled on the #1 green of the prestigious Canyon Golf Course, this residence offers plenty of space for family and friends. With 4 roomy bedrooms each featuring private ensuite bathroom plus a convenient guest bath, this home is a rare find. A recently renovated kitchen and sleek contemporary bathrooms have been meticulously updated with tasteful care. The open-concept great room and kitchen showcase brand new wood flooring, vaulted ceiling, and a stone-faced wood-burning fireplace providing a touch of rustic mountain warmth. A climate-controlled wine room is designed to make gatherings a breeze. Air conditioning ensures year-round comfort. Step outside to the expansive deck, where you can dine alfresco while enjoying views of the golf course.

37200 N Cave Creek Road Road Unit 1125 Scottsdale, AZ 85262

$2,275,000
3 Beds
3.5 Baths
2,414 SqFt
Status Active
MLS # 6659637
Property Type Townhouse
Price Type --
Upon entering the secluded courtyard of this unique property, you immediately recognize you've discovered a remarkable place. This ground-level home, resembling a personal oasis, was built in 2020 and features an open floor plan with modern, high-end finishes throughout. Comprising 3 bedrooms and 3.5 baths, it's designed to impress at every turn. Conveniently located near the Desert Mountain Club, the residence includes private terraces that enchant both residents and guests. Perfectly situated on the third hole of the Seven Par 54 Golf Course, this home offers both luxury and accessibility.

3021 W Feather Sound Drive Anthem, AZ 85086

$2,275,000
3 Beds
4 Baths
3,476 SqFt
Status Active
MLS # 6734505
Property Type Single Family Residence
Price Type --
Exquisite Golf Course Estate in Exclusive Guard-Gated Community Discover unparalleled luxury and elegance in this newly renovated 3-bedroom en-suite, 4-bathroom estate, nestled in multi-million dollar custom homes on an elevated premium golf course lot with breathtaking mountain views. Located in a prestigious guard-gated community boasting two championship golf courses and serene surroundings, this home offers an exceptional blend of sophistication and modern amenities with no expense spared. Key Features: Tesla Solar Panels: Embrace sustainability with state-of-the-art Tesla solar panels (owner owned), ensuring energy efficiency and cost savings, minimizing your environmental footprint. Private Pool: Relax and entertain in style with a heated resort-style pool and spa, complemented by expansive outdoor living spaces and stunning views. Perfect for relaxation and entertaining. Chef's Kitchen: Create culinary masterpieces in the gourmet chef's kitchen, equipped with top-of-the-line appliances, sleek countertops, and custom soft close cabinetry with ample storage. Guard-Gated Community: Experience peace of mind in a secure environment with 24/7 guard-gated access, ensuring privacy and safety for you and your family. Award-Winning Golf Courses: Tee off on world-class golf courses just steps from your door, perfect for enthusiasts of all skill levels and offering picturesque views. Mountain Views: Admire panoramic mountain views from multiple vantage points throughout the home including a 20' window wall, providing a tranquil backdrop to everyday life. Luxurious Amenities: Revel in the convenience of a built-in wine cellar, soft water system, newer installed A/C units, open concept floor plan, coffee bar ensuring comfort and luxury year-round. Master Suite Retreat: Retreat to the expansive luxurious master suite featuring a spa-like bathroom, oversized walk-in closet, and serene views. Three-Car Garage: Ample space for vehicles and storage in the attached three-car garage, equipped with custom cabinetry and workplace. Location: Situated in a prime location within the community, this home offers easy access to upscale shopping, dining, and entertainment options, while also providing a peaceful retreat from city life. Your neighborhood: Anthem Golf and Country Club boasts private resort style amenities including 36 holes of championship golf, pro shop, 2 clubhouses, premier dining, tennis, swimming, bocce ball, tennis, pickleball, fully equipped fitness centers, spa, yoga, and access to several hiking trails. Whether you have children or grandchildren this is the community you want to live in. From A rated schools to gorgeous parks that include fishing, playgrounds, soccer fields, baseball fields, skate park, walking/jogging paths with waterfalls and ducks. Large community center with every indoor amenity you can think of from rock climbing, ping pong, basketball and private waterpark. There's never a shortage of events, whether it's a concert in the park, football games, farmers market, or Easter Egg Hunt!! Perfect for: Ideal for discerning buyers seeking a blend of luxury, privacy, and exclusive amenities, this meticulously crafted home embodies the epitome of upscale living. Don't Miss Out: This is a rare opportunity to own a prestigious property in one of the area's most coveted neighborhoods. Situated along the 6th hole of Anthem Golf & Country Club this home is sure to impress your family and friends! don't miss out on your chance to experience the luxury and tranquility that define this exceptional residence.

10316 N 48th Place Paradise Valley, AZ 85253

$2,275,000
5 Beds
3 Baths
3,437 SqFt
Status Active
MLS # 6769042
Property Type Single Family Residence
Price Type --
Welcome to your beautifully remodeled dream home in the heart of Paradise Valley! Offering 5 bdrms, 3 bathrooms & a 3 car garage on a large 1/2 acre lot this home provides plenty of space for relaxation & entertaining. The fully remodeled home features a stunning new kitchen with Thermador & sub zero appliances with double islands. The primary suite is a true sanctuary with fireplace & spa like bathroom. Step outside to a beautifully landscaped backyard with a sparkling pool & spa, perfect for warm Arizona days, and a covered patio ideal for al fresco dining..Don't miss the opportunity to own this magnificent property in one of Arizona's most sought-after locations in the 3 C's School district. Priced $175k below appraised value!

5911 E Voltaire Avenue Scottsdale, AZ 85254

$2,275,000
5 Beds
4.5 Baths
3,647 SqFt
Status Active Under Contract
MLS # 6769735
Property Type Single Family Residence
Price Type --
Experience soft modern luxury in the magic 85254 zip code! This breathtaking 5 bedroom, 4.5 bath residence was extensively rebuilt with over 1000 sqft of new living space and 10+ ft ceilings in the main living area and primary suite. Experience elegance in every corner, from the grand kitchen featuring stained cabinets and top-tier Thermador appliances to the dreamy butler's pantry. Indulge in the spa-like primary suite with its large walk-in shower, freestanding tub and expansive primary closet. Step outside to an entertainer's paradise, complete with limestone pavers, a newly refinished diving pool, and a brand-new built-in BBQ. The floor plan was thoughtfully redesigned, with 3 ensuite bedrooms with walk-in closets, a moody powder bath, and generously sized laundry room. Premium finishes are evident throughout, including white oak engineered hardwood flooring, elite Brizo plumbing fixtures, and carefully selected designer lighting. Nearly everything is new in this home including updated plumbing, electrical, HVAC, roof, garage door, and landscaping. Nestled in the heart of Scottsdale, this gem is just moments away from top local dining and attractions, making it ideal for those seeking both luxury and convenience.

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