Bi-weekly mortgage payments

[HaywardBound]

I'm looking into setting this up. Should I try to set this up on my own or pay a fee and have a company take care of it.

I'm currently refinancing right now, so I don't know what bank will have my mortgage.

The main advantage (goal) for us is to have half of the mortgage payment come out of my paycheck each payday, and the bonus is to make the extra payments to the principal.

Any cons with this payment plan?

Any input would help.

Thanks,

Jon

[IFallsRon]

We researched this a few years ago and came to the conclusion that you gained more if you added extra with your monthly payment.

[Double D]

Watch out for a prepayment penalty.

You would want to make that extra half payment 2 weeks early, not 2 weeks late. Just one thing to watch out for.

You will be amazed at the end of your mortgage how just that little extra bit early will save you on the end.

DD