Biweekly

• The Biweekly Mortgage Meet the needs of home buyers looking for faster principal reduction and lower total interest payments with the Biweekly Mortgage. Biweekly Mortgages are similar to traditional fixed-rate, level-payment, fully amortizing mortgages, except the borrower's payments are made every 14 days instead of once a month. Each payment is applied immediately to the loan's principal balance, which means that the Biweekly Mortgage will be paid off much sooner, resulting in significant interest savings over the life of the loan. Lender Benefits Timely payments and fewer defaults Cross-selling opportunities, as the automatic drafting requirement attracts new deposits Flexible servicing options (Actual/Actual, Scheduled/Actual, and remittances) that allow lenders to maximize float opportunities or reduce the required net yield Creation of a market niche by attracting borrowers who want a faster way to debt-free homeownership, with convenient, affordable payments Consumer Benefits Faster equity buildup Shorter loan term Substantial interest savings Convenient payments