Its official. The math does not lie you should pay your mortgage WEEKLY. I have just completed all the math that you do not want to go through to find the truth.
I wanted to know the best way to pay a mortgage to save as much money as possible. Here are the conclusions that you want to take away from my studies.
Was it better to pay you mortgage weekly, bi-weekly or monthly?
-> Paying you mortgage weekly would save you 1294.12$ on a 200 000$ mortgage amortized over 25 years (rate of 5.4%). Now thats not a ton of money but it does not cost you anything. You do not have to increase your payments at all to save. So take the saving and run with it.
-> The higher the interest rate the more you will save. If we double the interest rate, the savings are 7.08 times larger. That means that there is an exponential factor that increases, power of this strategy.
-> Paying your mortgage weekly generates 43% more savings than paying your mortgage bi-weekly.
How to increase your savings by weekly accelerated payments?
Recently many people have started to use a strategy called weekly accelerated mortgage payments. That means that they not only...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
