Did you know that when you pay more money towards the principal amount of the loan that your lower the effective interest rate of the loan?
Did you know that by using the bi-weekly payment it allows you to pay 13 payments instead of 12?
Did you know that paying on a monthly basis is not a big change, but that one extra payment a year can save you hundreds if not thousands of dollars in interest over the life of the loan?
Did you know that if you apply the bi-weekly payment plan to your auto, or student loans that you can pay them off sooner as well?
Did you know that if you started out with a 7% interest rate that you can lower your interest rate by paying more towards principal?
Did you know that Set To Go Loans provided the information about bi-weekly payments?
Now if you didn’t know, now you know…
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