Does paying my mortgage weekly save money?

+1 vote
asked Jan 1, 2019 in Real Estate - Renting by Maskirappier (170 points)
Does paying my mortgage weekly save money?

1 Answer

0 votes
answered Jan 2, 2019 by xcfrtwe (280 points)
Paying your mortgage payment weekly means that you'll be making a total of 13 payments in one year instead of the regular 12 payments per year with monthly mortgage payments.

So over the course of a mortgage of lets say 30 years you could save as much as $30,000.00 to $40,000.00 in interest charges making the weekly mortgage payments instead of the monthly mortgage payments which is quite a bit of money saved over the time of the mortgage.

So yes if possible make the weekly mortgage payments and you'll save a lot of money.

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