Which Payment Frequency Option is Best to Pay Down my Mortgage the Fastest?

[Claudia Schmidt]

I just bought a house, and I know when you make bi-monthly payments to your mortgage you end up making an extra month of payment at the end of the year.

If I choose to pay weekly, is this better? Would I end up making more than an extra month payment at the end of the year?

Thanks for any advice!

[Mitch Kronowit]

Those bi-weekly payment programs usually mean you make the equivalent of one extre payment a year. No you don't send a check for an entire extra payment in December.