Mortgage Payment
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Mortgage Payment Options

Payment Schedules: Most lenders offer several different payment options which will help you pay less interest and repay your mortgage faster.   

Check out the table below to see how changing your
payment frequency can save you money.

$200,000 mortgage, interest rate of 5.75%, 25 year amortization

Payment Frequency 

Amount 

Amortization
Years
 

Total Interest
Paid

Interest savings vs.
Monthly Payment

Monthly

$1,250.04

25

$175,013

$0

Bi-Weekly

$574.97

25

$173,730

$1,283

Weekly

$287.36

25

$173,570

$1,443

Bi-Weekly Rapid

$625.02

23.08

$143,654

$31,359

Weekly Rapid

$312.51

23.08

$143,292

$31,751