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elcheapodeluxe t1_j6ov78i wrote

Are you asking about specifically eactly every two weeks, or did you really mean "twice a month" or "every fifteen days which is about two weeks"?

If you just mean making half the payment twice as often - you are saving a little bit in interest. You know what would save you a little bit MORE in interest? Make your ENTIRE monthly payment half a month early. But in the grand scheme - that is not going to shave off ten years. Making an extra payment (especially EARLY in a 30-year mortgage) will have a bigger impact.

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nolesrule t1_j6p36fu wrote

Timing of payments doesn't make a difference with U.S. mortgages because interest is calculated based on the final monthly balance.

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