Hello,
I have a 15 yr mortgage with 12+ years remaining on it. Current interest rate is 2.25% and I was wondering if it makes sense to break the monthly payment into 2 bi-weekly payments? For e.g - if total monthly payment (PITI) is $2500, does it make sense to make 2 payments of $1250 15 days apart?
I can manage the cash flow and wondering the process to get this done. I will be interested if it reducess my total interest outgo and reduces my total instalment count.
Thanks in advance for your suggestions.
original posted by AbhiAKA to r/personalfinance on Wed, 06 Mar 2024 19:45:28 GMT.