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mortgage monthly payment vs bi-weekly payment

mortgage monthly payment vs bi-weekly payment# Investment - 投资

f*t2009-01-08 08:01

1 楼

Let us the monthly payment is 1000
monthly payment of 1000 = 12 payments / year = 12K
bi-weekly payment of 500 = 26 payments / per year = 13K
so one can finish the loan earlier.
So there is no benefit to do the half-month payment, for example, if I pay
500 at the 1st and 15th of each month, it would be same as that I pay 1000
at the 15th of each month.
are I right?

c*o2009-01-08 08:01

2 楼

不对吧，一个月2次付的利息要少于一个月一次的，因为利息是在剩余本金基础上算的

K*D2009-01-08 08:01

3 楼

Although I haven't read the terms, but from what I heard, you are
completely right.
There is no trick in paying down your mortgage. You pay more, you get
out of debt earlier.

【在 f****t 的大作中提到】

: Let us the monthly payment is 1000
: monthly payment of 1000 = 12 payments / year = 12K
: bi-weekly payment of 500 = 26 payments / per year = 13K
: so one can finish the loan earlier.
: So there is no benefit to do the half-month payment, for example, if I pay
: 500 at the 1st and 15th of each month, it would be same as that I pay 1000
: at the 15th of each month.
: are I right?

K*D2009-01-08 08:01

4 楼

You save around 500 bucks in 30 years. I would ignore that part.

【在 c****o 的大作中提到】

: 不对吧，一个月2次付的利息要少于一个月一次的，因为利息是在剩余本金基础上算的

f*t2009-01-08 08:01

5 楼

How? I think the saving is 0.

【在 K****D 的大作中提到】

: You save around 500 bucks in 30 years. I would ignore that part.

K*D2009-01-08 08:01

6 楼

0 is also possible. Depending on the 小字。 I can't tell before I read
the 小字。

【在 f****t 的大作中提到】

: How? I think the saving is 0.

f*t2009-01-08 08:01

7 楼

我的逻辑是这样：半个月发一次工资，大部分人都市把这钱放到checking/saving, 不
是CD/stock. 考虑到低的利息和税，还不如先交掉一半mortgage, 如果这样能省半个月
的利息的话。
就是不知道lender 给不给省。

【在 f****t 的大作中提到】

K*D2009-01-08 08:01

8 楼

I said, read the terms.

【在 f****t 的大作中提到】

: 我的逻辑是这样：半个月发一次工资，大部分人都市把这钱放到checking/saving, 不
: 是CD/stock. 考虑到低的利息和税，还不如先交掉一半mortgage, 如果这样能省半个月
: 的利息的话。
: 就是不知道lender 给不给省。

s*d2009-01-08 08:01

9 楼

一般monthly的不给省。不过及时算你算算差的很小。一般loan几十年就几百块吧。
你要是弄个reward checking利息还能比mortgage高。

【在 f****t 的大作中提到】

f*t2009-01-08 08:01

10 楼

May I know how you come the estimate of several hundreds?
I thought it would be much more than that for a 250k 30years 5.5% loan?
basically is the 500 DCA for half month of each month with 5% return?

【在 s**********d 的大作中提到】

:
: 一般monthly的不给省。不过及时算你算算差的很小。一般loan几十年就几百块吧。
: 你要是弄个reward checking利息还能比mortgage高。

K*D2009-01-08 08:01

11 楼

That adds up to a $500 CD for 15 years at mortgage rate, on a 30-year
mortgage.

【在 f****t 的大作中提到】

:
: May I know how you come the estimate of several hundreds?
: I thought it would be much more than that for a 250k 30years 5.5% loan?
: basically is the 500 DCA for half month of each month with 5% return?