All mortgage acceleration
programs are not created
equal.
The following comparison is based on a new 30 year
mortgage, $200,000 loan amount, 6 % APR, monthly
payment $1199.10. $1000 monthly discretionary income.
| Bi-Weekly Plan |
23 years | No | Yes | No | No | No | No |
|
15 Year Mortgage |
15 years | Yes | Yes | No | No | Yes | No |
| Money Merge Account Program |
10.4 years | No * | No | Yes | Yes * | No | Yes * |
| Make extra principal payments * |
14.9 years | No | No | Yes * | No | Yes * | No |
| Australian ARM & US Counterpart |
Adjustable * | Yes | Yes * | Yes | Yes | No | No |