Bi-weekly payments offered through GreenStone are a convenient way to reduce the total amount of interest paid over the course of your mortgage, while shortening the overall life of the mortgage by up to six years. Watch our v-blog on biweekly payments to see if this is an option for you!
Setting up bi-weekly payments is easy to do at your local GreenStone branch or through a financial services officer.
Once the payment schedule is set up, you will make two payments a month, or 26 half payments, rather than 12 large payments through the year. The additional payment is applied directly to principle, thereby paying off your principle balance faster and reducing the overall interest paid.
Benefits:
Reduces overall interest charges
Reduces the life of the loan
Helps with cash management
Visit one of our local branch offices to learn more about our country home mortgages.
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