How to Split a House Payment Into Two Payments

No one likes owing money. Sure, you're thrilled to get the loan when you buy a house, but to think it will be hanging over your head for the next 20 or 30 years is a bit daunting. Splitting your house payment into two installments can help you pay off the mortgage faster.

Step 1

Find out if your bank allows biweekly mortgages. Some banks do not, but a biweekly mortgage, as the name suggests, is paid every two weeks. Paying in this manner will result in your making 13 house house payments in a year rather than 12.

Step 2

Switch your payment method from monthly to biweekly. If the bank allows for flexibility as to payment dates, schedule them to coincide with your pay dates at work. Otherwise, budget to be sure the money is in the account on the two scheduled payment dates.

Step 3

Make the payments on time. Splitting the house payment gives you one more deadline date to remember. If possible, schedule automatic debits from your bank account to guard against missed payments.

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