Bi-Weekly Mortgage

What Lenders Do Not Want You To Know

Did You Know? Making one extra mortgage payment a year will knock years off your mortgage and save you thousands of dollars. But that is not even the secret we reveal. Read "What Lenders Do Not Want You To Know"  and find out one of the most important secrets a homeowner can know. Click here to learn more.

 The Mortgage Secret we are about to tell you will save you thousands of dollars and cut many years off your mortgage, home loan thus paying off your mortgage sooner.

 Simply paying an extra payment on your mortgage will help you pay off your mortgage early, however following the tips provided here will allow you to save thousands more and pay off your home many years faster than simply sending in an extra payment.

Take out your amortization schedule you received when you first got your mortgage. Notice that each of the payments are numbered 1 thru 360 ( for a 30 year mortgage ) Now look at the sections for principle and interest. This is what shows you how much principle and interest is paid for each payment number. Notice how much principle is paid for the first 1 to10 years               ( payments 1 thru 120 )  For a $100,000.00 Mortgage, your mortgage payment including principle and interest will be around $750.00 per month or so depending on what interest rate you received. Of that amount about $100.00 would be principle for the first several years while $650.00 will be interest. After sending your first payment in and you want to send another payment in of $750.00 before the first of the month. By instructing the lender to apply your extra payment to Payment Numbers 2 thru 8, you can effectively wipe out 7 payments of your mortgage including ALL THE INTEREST FROM THOSE PAYMENTS. Your next regular mortgage payment will be Payment Number 9 when you send in your regular payment. ( note: you must always continue to make your normally scheduled payment or you will be considered late on your mortgage )

As you continue to pay down your payment numbers your principle for each payment will change as you can see by following your amortization schedule. Add up each months principle to determine how many payment numbers you will pay off each time you decide to send extra. 

The key to this system is to Specifically instruct the lender what PAYMENT NUMBER you want to apply the extra payment to. If you simply send in an extra payment for the lender to apply as they see fit, they will apply it to payment number 360. That is because the the least amount of interest is being paid off at that point.

By instructing the lender to pay off specific mortgage payment numbers, you can pay off several months of payments with a single extra payment.

For More Information Call:

336-753-0844

Other methods of prepayment are listed below

If you search for "bi-weekly mortgage" with an Internet search engine, you will be overwhelmed by the number of companies offering "Bi-weekly Mortgage Reduction Services" or "Bi-weekly Savings Programs." Beware, you are entering dangerous waters.

Beware of Bi-Weekly Mortgage Reduction Services and Savings Programs

These "Reduction Services" and "Savings Programs" are charging you fees to "make a bi-weekly mortgage payment" for you. The enticement is that they will save you an impressive amount of money on your mortgage and reduce the number of years you pay on your mortgage.

The enticement is that they will make bi-weekly mortgage payments for you.

The real story is that they are not actually making bi-weekly payments on your mortgage. They are making bi-weekly deductions from your bank account. These funds are placed into an account from which your monthly mortgage payment is made (which only takes 24 deductions - but during the course of a year 26 deductions will be made from your account). With the extra 2 deductions, the "Service" makes an additional mortgage payment. In other words rather than making 12 mortgage payments, 13 payments are made.

The enticement is that they are providing a special service to you that would either not be possible for you to get on your own or that you won't have the time or discipline to make it happen.

The real story is that you can easily make an additional mortgage payment each year. An easy way to do this is to have your mortgage payment automatically deducted from your account each month with an additional 1/12 payment to be applied to the principal amount. At the end of 12 months, you will have made an additional payment. And you won't have to pay any fees to a "Service".

For More Information Call:

 336-753-0844 

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 Winston Salem, NC--Forsyth County, Kernersville, NC--Forsyth County, Mocksville, NC--Davie County, Greensboro, NC--Guilford County, Germanton, NC—Stokes/Forsyth County, Rural Hall, NC—Forsyth County, King, NC--Stokes/Forsyth County, Mt Airy, NC--Surry County, Raleigh, NC--Wake County, Burlington, NC--Alamance County, Statesville, NC--Iredell County, Wilkesboro, NC--Wilkes County, North Wilkesboro, NC--Wilkes County, Elkin, NC--Surry/Yadkin County, Advance, NC--Davie County, Clemmons, NC--Forsyth County, Lexington, NC--Davidson County, Cary, N.C.--Wake/Chatham County, Chapel Hill N.C.--Orange County, Huntersville, NC-- Mecklenburg County, Monroe, NC--Union County, Mooresville, NC--Iredell County, Charlotte, NC--Mecklenburg County, Matthews, NC--Mecklenburg County, Waxhaw, NC--Union County,   Lewisville, NC-- Forsyth County, Troutman, NC-- Iredell County, Oak Ridge, NC-- Guilford County, High Point, NC-- Guilford County, Summerfield, NC-- Guilford County, Colfax, NC-- Guilford County, Archdale, NC-- Randolph County, Trinity, NC-- Guilford County, Stokesdale, NC-- Guilford County, Pleasant Garden, NC-- Guilford County, Pfafftown, NC-- Forsyth County, Tobaccoville, NC-- Forsyth County, Bermuda Run, NC-- Davie County, Thomasville, NC-- Davidson County, Denton, NC-- Davidson County, High Rock Lake, NC-- Davidson County, East Bend, NC-- Yadkin County, Boonville, NC-- Yadkin County, Walnut Cove, NC-- Stokes County, Asheboro, NC-- Randolph County, Randleman,  NC-- Randolph County, Cooleemee, NC-- Davie County, Browns Summit, NC-- Guilford County, Sophia, NC-- Randolph County, Climax, NC-- Guilford County, Whitsett, NC-- Guilford County, Julian, NC-- Guilford County, McLeansville, NC-- Guilford County, Gibsonville, NC , Myrtle Beach, SC, Columbia, SC, Charleston, SC several cities in California and Florida to name a few. VanDyk Mortgage, Inc. has branches in most all states in the US, this allows us to lend almost anywhere in the U.S.

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