A mortgage that schedules payments every two weeks instead of the standard monthly payment. The 26 bi-weekly payments are each equal to one-half of a monthly payment. The result is that the mortgage is paid off sooner.
A mortgage that requires payments every two weeks and helps repay the loan over a shorter term.
a mortgage loan where the payments are made every 2 weeks. Making payments in this fashion allows you to pay the principal down faster, incurr less interest charges and ultimately, pay the loan off quicker.