Bi-Weekly Mortgages

Save Thousands of Dollars With Bi-Weekly Mortgages

3 Year Adjustable Rate Mortgage Payment Example:

$100,000 @ 7.125%	Monthly Payment	Bi-Weekly Payment
Loan Amount	$100,000	$100,000
Total Years to Pay Off Mortgage	3O Years	23.6 Years
Payment Amount	$673.72 per month	$336.86 every 2 weeks
Total Interest Cost	$179,667	$116,455
SAVINGS by Paying Bi-Weekly		Save $63,211

    Example is based on a 3 year Adjustable Rate Mortgage with a 30 year amortization.  APR includes prepaids.

 

30 Year Fixed Rate Mortgage Payment Example:

$100,000 @ 8.50%	Monthly Payment	Budget Bi-Weekly Payments
Loan Amount	$100,000	$100,000
Total Years to Pay Off Mortgage	3O Years	22.4 Years
Annual Percentage Rate	8.543%	8.554%
Payment Amount	$768.91 per month	$384.46 every 2 weeks
Total Interest Cost	$177,228	$123,023
SAVINGS by Paying Bi-Weekly		Save $54,205

Example is based on a 30 year Fixed Rate Mortgage.  APR includes prepaids.

You can build the equity in your home and pay off your mortgage sooner with a Community First Bi-Weekly Mortgage. Instead of making one large monthly payment, smaller payments are made every two weeks. This method can substantially reduce the amount of interest you'll pay over the life of your loan.

Bi-weekly payments can be set up for Community First's Adjustable and Fixed Rate Mortgages. Regardless of the type of mortgage you choose, bi-weekly payments will save you money and build the equity in your home at a faster pace.

If you have questions about our bi-weekly payment options, contact us today to find out how Community First can help you find a way into the home of your dreams.