How does the payment schedule help you pay faster your mortgage?

Not long time ago, the mortgage payments were made once a month. The modern mortgage is totally different. More flexible schedules can help you pay your loan faster by giving you options to pay every week, bi-weekly, semi-monthly… Making payments more frequently can lead not only to paying off your mortgage faster but also save you money from interest.

The most advantages option is to choose accelerated mortgage installments. Let take an example if you take accelerated bi-weekly payment schedule, for a year you will end up with making 26 payments instead of 24, which will lead to significant saving over longer period of time.