When signing your mortgage commitment letter you will have to choose your payment frequency. If your goal is to re-pay your mortgage as quickly as possible, then you need to understand how different payment options will affect your repayment schedule.
So what are your options?
In general, most lenders will offer the borrower the option to decide which repayment schedule fits best with their lifestyle. The options include monthly, semi-monthly, bi-weekly, accelerated bi-weekly, weekly and accelerated weekly payments. Let’s use some simple math to determine which payment frequency will assist you in paying back your mortgage in the shortest time possible.
For Full Details Visit Link: https://dominionlending.ca/news/accelerated-bi-weekly-vs-bi-weekly-payments/
Brought To You By:
Dave, Cindy and Amanda Walker
The Walker Real Estate Team
19 Year Emerald Medallion Members
HomeLife Benchmark Realty
#1 1920 152 Street
South Surrey, B.C. V4A 4N6
604-889-5004 or info@WalkerRealEstate.ca
Kimberly Walker, Mortgage Broker
Cindy Walker, Licensed Assistant
14 Years Mortgage Experience
Dominion Lending Centers
Valley Specialists
#111 20434 64 Avenue
Langley, B.C. V2Y 1N4
604-889-5004 or cindywalker@shaw.ca
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