What if you could schedule smaller withdrawals to match how you are paid that, over time, helped you pay off your loans months or even years faster? AutoPayPlus can do that with biweekly loan payment plans.
AutoPayPlus is a service that manages your payments, helps you build personal equity, and provides credit monitoring and 24/7 alerts so you can improve your financial standing today and be in a better position for future purchases.
How a biweekly loan payment strategy will save you money on your home mortgage.
By setting aside half of your regular mortgage payment every two weeks, you'll end up with two extra half-payments to your loan principal each year. If plan to stay in your home full term, you can save $27,725 in interest on a 30-year $250,000 mortgage at 4% APR after service fees. Plus, you can also be mortgage free 4 1/2 years earlier!