The vast majority of modern people need mortgages to help them buy homes. Many of those people, though, have difficulty repaying the loan because they canít afford high monthly payments. SMART Payment Plan makes your loan repayment easier by putting you on a biweekly rather than a monthly schedule.
A Biweekly Repayment Schedule from SMART Payment Plan
If mortgage payments werenít so high, then people wouldnít have such a hard time paying them. SMART Payment Plan has found an easy way to help you make smaller payments without extending the term of your loan. In fact, you can shorten it. SMART Payment Plan uses a biweekly schedule instead of a conventional monthly schedule. That means you make half payments every other week instead of full payments once a month. Our clients find that this is helpful because they can make payments right after they get their paychecks. This is a sensible solution that anyone can follow.
Pay Off Your Mortgage Faster with SMART Payment Plan
Making smaller payments is an obvious benefit of SMART Payment Planís biweekly schedule. In addition to this, you will find that you actually pay off your mortgage faster. How can making smaller payments help you pay off a loan sooner? When you make a half payment every other week, you actually end up making 13 whole payments each year. People who make whole payments once a month, though, only send in 12 payments a year.
Getting Out of Debt with SMART Payment Plan
Depending on the specific terms of your loan, SMART Payment Planís biweekly schedule could even help you save money in the long run. Since you make more payments per year than those with conventional payment schedules, you will acquire less interest over the years. That means you can reduce the amount of time that you have to pay interest on your principal loan amount.