SAVE BY CHANGING PAYMENTS FROM MONTHLY TO WEEKLY
SAVE $ 35,061.34 on Interest charges !!!!
Let us say you take out a 1st Mortgage for $ 150,000.00 at a rate of 7 % and Amortized over 25 Years.
Your payments would be $ 1050.62 per month for 25 years.
You would have paid $ 315,188.93 of which $ 165,188.93 was interest.
Most lending institutions will let you change from Monthly Payments, to Weekly Payments.
Monthly Payment of $ 1050.62 divided by 4 = $ 262.65 per Week.
You would have paid $ 280,127.59 of which $ 130,127.65 was Interest.
You would have SAVED $ 35,061.34 on Interest charges over 1067 Weeks (20.51 Years.
You paid off your Mortgage 4.5 years sooner.
