Compare the
BWMA Program
to Companies Offering
"Free" Biweeklies

 

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Interest Savings

Why the difference in interest savings? A biweekly is a biweekly isn't it?

The difference between the Biweekly Mortgage Association and other companies offering Free Biweeklies is the difference between you earning interest on your money or not.

With BWMA, the extra half payment that is collected twice a year is paid immediately to your principal twice a year, once at the beginning of the year and once at the end of the year. Not so with those Free Biweeklies where they hold your money, draw interest on it (which they keep), for 180 days and only then do they apply the two half debits as one monthly payment to principal. (There are 52 weeks in a year, cut that in half and there are 26 biweekly debits to your account, cut that in half and there are 13 months to a biweekly calendar.)

With BWMA you get more money to the principal quicker not allowing the interest as long to compound. The result is a savings to you of 3 months fewer mortgage payments and approximately $2,000 in interest savings!

*Figures based on $150,000 30 year loan at 7% with $200 monthly impounds.

Total Interest Savings Difference

Why the difference in interest savings?

The $5,384 savings is comprised of the 3 less mortgage payments you will pay. (see Shortens Loan) The savings in the debit fees every two weeks and the interest savings by applying your money to your principal quicker.

*Figures based on $150,000 30 year loan at 7% with $200 monthly impounds.

Shortens Your Loan

How Does BWMA Provide Shorter Loans?

The $5,384 savings is comprised of the 3 less mortgage payments you will pay. The savings in the debit fees every two weeks and the interest savings by applying your money to your principal quicker.

(Also see Interest Savings.)

PMI

PMI is "Private Mortgage Insurance".

You have to have it when you put less then 20% down, on a conventional loan. But nobody tells you when to drop it ... until now!

Biweekly Mortgage Association members are the only mortgage reduction consultants in the U.S. with software that tells homeowners when they reach 20% equity qualifying them to drop PMI.

Average homeowner pays PMI for 12 years, you will be able to show them how to drop it in 3 years.