By paying half of your monthly payment every two weeks, over the course of a year, you will make 26 half-payments. That's the same as 13 full payments, or one more payment than there are months in a year.
Making more payments means paying your mortgage off sooner, which means paying less in interest. It depends on your interest rate, but "on an average mortgage in America, you'll save over $44,000 in interest payments," Bach tells CNBC Make It.
To see just how much you can save by using a bi-weekly plan, plug in your own numbers on Bankrate's mortgage payment calculator.
You may have to pay a one-time set-up fee to switch payment plans, but "many banks offer it for no extra cost," notes Bach.
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