How to Pay Off Your 30-Year Mortgage In Only 20

Did you know that by the time you finish paying off your 30-year mortgage, you would have paid for your home almost three times! With just one small change to the way you pay your monthly bills, you’ll be able to shed years from your mortgage, and put money back into your pocket.

If you begin to pay your mortgage payment on a bi-weekly schedule you will make twenty-six one half payments over the course of the year. That means you’ll be making 13 monthly payments.
$100,000 Loan at 8.5%
 
30 Year Loan
Amazing Facts
Current Payment
$1,000 PITI *
$500 Bi-weekly
Paid Off In
30 Years
21.2 Years
Interest Payment
$176,811
$115,784
 
Total Savings
$61,027*

* PITI = Principal, Interest, Taxes, Insurance

The overall result is:

  • You will decrease your mortgage term nearly 9 years!
  • You will begin to build equity faster!
  • You will save more than $61,000!