Switched from monthly to biweekly payments on my HELOC and saw a real difference

Tbh I was paying the minimum on my home equity line for about 8 months and the principal barely budged. Once I split my payment into two smaller ones every other week, I knocked off $1,200 in interest over half a year. Has anyone else tried this with a variable rate loan and seen similar results?

2 comments

2 Comments

jamesfox15d ago

Whoa, that's not how the math works though.

dakotawood15d ago

And trust me @jamesfox, I'm the last person who should be doing math in public.