Texas Cash Back Real Estate  About Us   -   Contact Us   -   Featured Listings   -   All Listings Sell a Home & Buy a New
Construction and save up to 3%

Sell a Home & Buy a Pre-Owned
Home and save up to 2%

Rent or Lease an Apartment
and get up to $500 Rebate

Buy a New Construction Home
in Texas & Save up to 2%
Sell a Home in the Houston
Area & Save up to 1%
Buy a Pre-Owned Home in the
Houston Area & save up to 1%
 
Rebate Package Details
Search for Homes
Featured Listings
Pre-Qualify Me
My Home Finder
Home Buyer Guide and Tips
Home Buyer Check List
Home Buying Power
Applying for a Loan
Loan Application Checklist
Getting Approved for a Loan
Affordable Housing Finder
Loan Programs
Shopping for a Mortgage
Locking in Interest Rates
Your Credit Score
Mortgage Saving Tips
Mortgage Glossary
Making the Offer
The Inspections
The Down Payment
The Closing Costs
Insurance Costs
Real Estate Taxes
Going to Closing
Real Estate Glossary
Consumer Tools
    Subdivision Price Finder
    School Finder
    Golf Course Finder
    Senior Living Finder
    Consumer Market Report
    MLS Monthly Press Release
    Real Estate Dictionary
    Calculators
    Calculadoras (En Español)
Checklists and Worksheets
    Getting a Mortgage Checklist
    Loan Interview Materials Checklist
    Making an Offer Checklist
    Available Funds Worksheet
    Closing Costs Worksheet
    Gross Income Worksheet
    Home Visits Worksheet
    Housing Wants and Needs Worksheet
    Monthly Debt Worksheet
Mortgage Products and Lender Info
    Adjustable-Rate Mortgages
    Balloon Mortgages
    Biweekly Mortgages
    Fannie 3/2®
    Fannie 97®
    Fannie Mae's Community
    Home Buyer's Program™
    Expanded Approval™ for
    Timely Payment Rewards®
    Fixed-Rate Mortgages
    HomeStyle® Renovation Mortgage
    InterestFirst™ Fixed-Period
    Adjustable Rate Mortgages
    InterestFirst™ Fixed-Rate Mortgages
    Low Down Payment Mortgages:
    Flexible 97® and Flexible 100™
    Native American Housing Loans
    Reverse Mortgages:
    Home Equity Conversion Mortgage
    Reverse Mortgages:
    Home Keeper for Home Purchase
    Reverse Mortgages:
    Home Keeper Mortgage
    Rural Housing Loans
    Reverse Mortgage
    About Reverse Mortgages
    Assessing Your Financial Needs & Goals
    Living With Your Reverse Mortgage
   
Refinancing
    Finding the Best Refinancing Deal for You
    Points and Refinancing
    Refinancing Eligibility and Requirements
    Some Good Reasons to Refinance
    The Costs Of Refinancing
Home Improvement and Remodeling
    Buying And Improving A Home
    Buying And Improving A Home
    Requirements
    Home Improvement Financing
    Improving Your Existing Home: Costs
    Improving Your Existing Home: Projects
    Investing In The Home: Energy Savings
    Selecting A Contractor:
    Sources and References
    Selecting A Contractor: The Contract
    Working With a
    Home Improvement Lender
Mortgage Calculator
Bi-Weekly Mortgage
Detailed Mortgage Qualification
How Much Can I Afford?
Monthly Payment
Pre-Payment Analysis
Pre-Payment Mortgage Reduction
Principle After Specified Years
Debt Consolidation Calculator
Rent vs. Own
Texas Community Links
FAQs
 
 Jill Aylwin Realtor Texas Cash Back Real Estate

Jill Aylwin - Real Estate Broker, Realtor, MBA
Contact Us
 Realtor MLS
    Ph: (281) 334-CASH

  Biweekly Mortgages

If you wish to pay off your mortgage more quickly than with a traditional 30-year fixed-rate mortgage, significantly reducing the amount of interest you pay over the life of the loan, a Biweekly Mortgage may be for you.

Biweekly Mortgage payments are made every two weeks, resulting in 26 (sometimes 27) payments per year. As a result of the number and frequency of payments, you can pay off the loan faster than with a traditional 30-year, fixed-rate, monthly payment mortgage. For example, a loan that ordinarily would take 30 years to amortize fully could be paid off after just 22 years of biweekly payments depending on the interest rate of the loan.

A Biweekly Mortgage may also save you interest expenses over the life of the loan. For example, a $150,000 loan at a 7 percent interest rate paid monthly over 30 years will cost a borrower approximately $53,325 more in interest over the life of the loan than a Biweekly Mortgage for the same loan amount and interest rate.

Loan Features

  • Make a payment every 14 days instead of once a month (using a 365-calendar day year), so each payment amount is half the monthly payment for a comparable fixed-rate mortgage.

  • Payments will be applied to interest, principal, and other charges when received, resulting in a lower overall interest payment.

Considerations

  • Build up equity in your home, save on interest expenses, and pay off your loan faster than with a traditional 30-year, fixed-rate monthly payment mortgage, since making payments every 14 days is similar to making one extra payment per year.

  • Because biweekly payments are half the amount of comparable monthly payment mortgages, the Biweekly Mortgage does not require significant additional outlays in order to obtain the benefit of a faster payoff.

  • Biweekly payments can be timed to coincide with payroll deposits for easier budgeting.

 

Buy a Pre-Owned Home
in the Houston Area
and save up to 1%

 

Contact Us today -- Or --
Call us anytime at (281) 334-CASH

 

 
Buy a New Construction Home
in Texas & Save up to 2%
Sell a Home in the Houston
Area & Save up to 1%
Buy a Pre-Owned Home in the
Houston Area & save up to 1%
 

Texas Cash Back Real Estate
Jill Aylwin / Real Estate Broker, Realtor, MBA
Contact Us or Call: (281) 334-CASH

 Texas Realtors        Realtor MLS


Web Site Design, submission and hosting by Uster Enterprise Inc. (713) 412-6704
E-mail Webmaster