Definitions for "Biweekly loan"
Keywords:  payroll, twice, week, schedule, match
A mortgage which requires principal and interest payments at two-week intervals. The payment is exactly half of what a monthly payment would be. Over a year's time, the 26 payments are equivalent to 13 monthly payments on a comparable mortgage loan. As a result, the loan will amortize much faster than loans with monthly payments.
A loan that requires payments every two weeks and helps repay the loan over a shorter term.
A loan that requires payment every two weeks, therefore reducing the term and cost.