One E. Broward Blvd. Suite 1503 Ft. Lauderdale, FL 33301
110 E Atlantic Avenue Delray Beach, FL  33444
Bi-weekly Payments(Home)
A mortgage which requires a payment for half the
monthly amount every two weeks. As a result the
loan amortizes much faster than a loan with normal
monthly payments. For example, a 30 year fixed rate
loan will be paid off in approximately 19 years.
Closing Costs and what to expect
There are plenty of fees that you’ll have to make during the closing.
Depending on prior negotiations, the buyer or the seller could be
responsible for these costs, although typically the most of it is paid by
The buyer.
All closing costs are spelled out in the lender’s Good Faith Estimate.
This is only an estimate and the actual charges may differ. RESPA
allows the borrower to request to see the HUD-1 Settlement Statement
that shows all actual charges imposed on borrower in connection with
the settlement one day before the settlement. If you see a charge that
doesn’t make sense, or that no other lender has, it’s time to ask
questions.
Here’s an example of what you can expect to pay at closing.
(some costs vary widely from state to state, so you should determine
exactly what you will have to pay)

Discount and Origination Points: Points are equal to a percent of the loan
amount. 1.75 points is equal to 1.75% of the loan amount.
Discount points represent additional money you can pay to the lender at
closing. If you pay more points it will lower the interest rate. Usually, for
each point you pay for a 30-year loan, your interest rate is reduced by
about 1/8th (or .125) of a percentage point. Paying points can be good if
you plan on living in the home for a long time.
Origination Points (or Loan origination fee) charged by the lender for
evaluating, preparing, and submitting a proposed mortgage loan.
Origination fees are often expressed as a percentage. A one percent loan
origination fee is equal to 1% of the loan amount. Some lenders add
origination points into their quoted points while other lenders add an
origination point in addition to their quoted points.