Question.just starting out. My husband makes about $1200 a week, and we have $170 a week go to savings (for emergency and to help with his 3 month winter layoff).

Question

Question.  just starting out.Question. just starting out. My husband makes about $1200 a week, and we have $170 a week go to savings (for emergency and to help with his 3 month winter layoff). So about $1030 weekly to work with. Our mortgage is $1400. since it's too large to pay with one paycheck, should I split it up over 2 weeks? All 4 weeks? Should I send partial payments? Just trying to figure out the best way.  

Answer 1

Some mortgage lenders won't accept partial payments. I suggest setting some aside out of 2, 3 or all 4 paychecks.  

Answer 2

If your lender will accept partial payments, then by all means, make them! It can shave tens of thousands of interest off the total 30 years of your loan! Paying bi-weekly saves like 7 years or something crazy like that.