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Glossary   >   B   >   "Biweekly mortgage loan" Definition            Biweekly mortgage loan A mortgage whereby the borrower makes a half monthly payment every two weeks instead of the usual 12 monthly payments. This arrangement results in 26 half monthly payments per year and a significant reduction in interest since an extra monthly payment is made. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Biweekly mortgage loan - A mortgage whereby the borrower makes a half monthly payment every two weeks instead of the usual 12 monthly payments. This arrangement results in 26 half monthly payments per year and a significant reduction in interest since an extra monthly payment is made.