Monthly mortgage payments are the most standard, and lenders use this common payment to calculate the amount you would pay on other schedules. But choosing another option can shave time off your mortgage and thousands from your interest costs. 📌 Semi-monthly means you will divide your monthly mortgage payment in half and pay that amount twice a month. 📌 Biweekly means paying 26 payments yearly, once every 2 weeks. For 3 months each year (usually), you'll need to make 3 payments in a month. 📌Biweekly Accelerated means you're paying 26 payments each year, with an extra monthly payment added into the calculation and spread out over the year's payments. For 3 months each year (usually), you'll need to make 3 payments in a month. On average, this payment method can take your amortization from 25 years to 22.5 years. 📌Weekly means you're paying 52 payments each year, which is once a week. 📌Accelerated means you're paying 52 payments each year with an extra monthly payment added into the calculation and spread out over the year's payments. On average, this payment method can take your amortization from 25 years to 22.5 years. Contact us ☎️647.453.7969 📩svazhavilla@mortgagealliance.com First time Home Buyers / Commercial / Rent to Own Program / Mortgage Renewal / Refinancing / Home Equity Line of Credit / Debt Consolidation / Second Mortgage / Preapproval / Bad / Low Credit / Self Employed /Construction Loan / 1st, or 2nd Mortgage / Home equity loans / Shared equity Home ownership Program/ Business loans / small business franchises / ******** Truck and equipment financing etc ******* #GTA #Scarborough #NorthYork #Toronto #Scarborough #Ajax #Oshawa #Pickering #Whitby#dreamhome #home #firsttimehomebuyers #firsttime #privatemortgages #homebuyer #mortgage #mortgageexpert #mortgageadvisor #LowestInterestRates #debtconsolidation How much can you afford? Check with our affordability calculator. https://www.mortgagealliance.com/en/SunilVazhavilla/affordability-calculator/ Apply online : https://www.mortgagealliance.com/en/SunilVazhavilla/apply-online/ Ask me for information on home and auto insurance Contact me @ 647.453.7969 for a free consultation. LIC # M12000954 AKAL Mortgages - FSCO Lic. # 10845 Independently owned and operated