Finance
A biweekly mortgage differs from a standard monthly mortgage in that it:
AHas a lower interest rate
BResults in one extra full payment per year, accelerating principal paydown✓ Correct
CRequires a higher down payment
DIs only available for VA loans
Explanation
A biweekly mortgage requires half the monthly payment every two weeks. Because there are 52 weeks per year, this results in 26 half-payments (13 full payments vs. 12) per year — effectively making one extra payment annually, which reduces the loan term and total interest.
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