Biweekly Loan or Mortgage

A loan which features payments equalling one half of the usual monthly payment made every two weeks (to total 26 in a year), thus substantially reducing the life of the mortgage and the interest payable over the life of the mortgage.

Related Terms:

  1. Southern California Real Estate Trends Continue to Show a Buyers Market
  2. Adjustable Rate Mortgage (ARM)
  3. Adjustment Date
  4. Balloon (Loan) Mortgage
  5. Blended Rate

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