Im signing on the 18th for a 60000 dollar loan but they ( National City Mortgage) wont do a bi weekly payment . because its not a first mortgage. I have no fisrt mortgage and im trying to save on closing cost. cost of this loan is $100.00. Should i keep looking or get this one and is there a way i can set it up my self later? 5.87% rate which is locked in. they already did a title search. please respond fast. i will look at my messages tommorow.

The whole idea behind the biweekly payments is to get the equivalent of 1 more monthly payment.

12 months = 12 monthly payments

52 weeks / 2 weeks = 26 payments = 13 monthly payments

You do not have to get into any special kind of program to get the benefit, just give extra principal per month to get the faster amortization.

Most important is whether or not your loan has some kind of prepayment penalty.

I guess by now you already signed


Sorry did not check the site until now

My mortgage company has a program it offers, on new and existing mortgages, commercial and residential, where we can set up a direct draft bi-weekly on ANY mortgage. Contact me for more info.

If you have any credit issue or credit score problems that you might have concern Please call me

this could also help with your intrest rate