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To what extent do restrictions on loans apply?

Banks are aware of this fungibility and will take any loan into consideration when determining eligibility and risk. Taking out a loan for any reason during the process will likely be a red flag ...
D Stanley's user avatar
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3 votes

How exactly does a biweekly payment schedule on your mortgage reduce the amount of overall interest paid over the life of the loan?

A mortgage is normally calculated based on monthly payments, that is, 12 payments a year. If you get biweekly payments, that is 26 payments a year. Usually each payment is half the monthly payment. So ...
Jay's user avatar
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1 vote

How exactly does a biweekly payment schedule on your mortgage reduce the amount of overall interest paid over the life of the loan?

Math guy here. You've confused yourself with that complicated formula, because it is a derivation of the central formula, and the derivation requires certain assumptions to be made. The core formula ...
Harper - Reinstate Monica's user avatar

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