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Accelerated Mortgage

"Increase Equity Faster If...."

You have future plans of expanding your business.

You have a mortgage on the business property.

You have other types of personal or business loans you would like to pay off early.
 

The procedure is a biweekly payment program that reduces the total length of time you make payments and reduces the total interest paid on the loan.

What are the real financial benefits?

When a mortgage is $100,000 for 30 years at 8.5% interest, the monthly payment is $768.92 and total interest paid over the 360 months will be $176,807.60.

With a biweekly payment plan, the loan would be paid off 7 years and 4 months earlier, and total interest paid will be $126,157.07. This is a savings of $50,650.53.


What the Nation's Press has said:

USA Today: Lenders likely to push biweekly mortgages.
The Wall Street Journal: Biweekly Loans Helped by Fannie Mae.
USA Today: Biweekly mortgage builds equity faster.
The Washington Post: Biweekly Loans Get Boost From Fannie Mae.