Once you buy a house, you’re locked into a mortgage for 30 years, right? Wrong. Most banks have done away with prepayment penalties and made it easy for you to save money.
However, a growing number of banks are offering biweekly payment options. Rather than paying once a month, you pay every two weeks. This works out to two extra payments per year.
Even if it’s just up to the next $10 mark (paying $760 instead of $752.10) or the next $100 mark ($800 instead of $712), you can shave months off of your mortgage and be debt-free faster.