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re: Trying to make twice a month mortgage payments
Posted on 3/12/16 at 9:33 am to GoldenD
Posted on 3/12/16 at 9:33 am to GoldenD
quote:By this same theory wouldn't he just be better off paying it in full at the beginning of the statement period rather than the end.
If his payments are applied immediately, and his interest is one that compounds daily, then that first payment reduces the principle of which the interest for the second is compounded. It's probably a negligible amount he's saving.
1
Posted on 3/12/16 at 9:49 am to jturn17
quote:
By this same theory wouldn't he just be better off paying it in full at the beginning of the statement period rather than the end.
Of course, but he might not have the full funds available at the beginning of the statement.
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