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RED AND GOLDEN DELICIOUS, STAYMANS
CIDER AND HONEY
Selling 7 Days a Week
Directions: 22 miles west of Warrenton, to Rt. 522, North at Massies
Corner, 7< mile on left. Not Responsible for accidents
675-3201 (at shed).
703-675-3558
Real Estate £|t
Eileen M. Day REALTOR
THE BI-WEEKLY MORTGAGE The bi weekly mortgage is the latesi wrinkle in the home lend ing field, it is said that timing is everything. Basically, that's whai makes this mortgage different Instead of making payments once a month, borrowers make half a payment every two weeks. The result is savings of thousands of dollars in interest over the life of the loan..
Why? Look at a calendar. There are more than 12 four week periods in a year. Actually, there are 13. So you end up mak ing the equivalent of 13 monthly payments every year That one extra payment makes a big difference. For example, take a 30year. $130,000 mortgage with an interest rate of 10.5 percent. A borrower making half-payments bi-weekly would save $113,752 and knock 9.5 years off the loan.
If you have your checking or savings account at a bank which offers this type of loan, you can have the payments deducted automatically, and you can choose the day of the week for the deduction to coincide with pay days.
If there is anything we can do to help you in the field of real estate please stop in at EILEEN M. DAY. Realtor. The Clopton House. Washington. Va. 22747. Phone 675 3033. Were here to help. <
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