Biweekly vs Monthly mortgage payments

[Kumar Gaurav]

Hello,

I just wanted to know which is the most preferable way to make mortgage payments on a 30 year mortgage loan, biweekly or monthly? I am currently making biweekly payments on my 30 year loan and planning to refinance. Back in the past I made a random decision solely based on my conversation with the loan officer.I would like to take an educated decision during my refinance.

Thanks

[Ryan Ingram]

I think it’s totally up to you and your personal preference.

The biggest pro of biweekly is that you end up making 2 extra payments that equal 1 month...so every year you make 13 monthly payments.

I plan on keeping all traditional mortgages for the full length of the term to take advantage of low interest leverage and cash flowing assets.

I hope that helps?