Most mortgages have the option to allow payments to be made on a weekly or bi-weekly basis.
This option may be desirable for two reasons. The first is it can save you money as you can expect to pay off your mortgage about 4 years sooner. This can save you dramatically over the life of your mortgage. The other reason why these options are so popular is that if you are paid by your employer on a weekly or bi-weekly basis you can simplify your budgeting by making the payment line up with the way you are paid. Making extra payments Paying extra amounts on your mortgage can make a big interest saving over time.