Conexus - Payment schedule options

Payment schedule options

Pick the payment frequency that’s easiest for you to manage. Many people align their payments to their pay schedule. For example: if you are paid every two weeks, consider choosing a bi-weekly (accelerated or non-accelerated) payment schedule.

1. Monthly payments

✔ You pay your mortgage amount once per month on a specific day

✔ Provides consistency and predictability

✔ Great for you if you prefer simplicity, stability and want to align payments with your monthly budget

2. Semi-monthly payments

✔ Your monthly mortgage amount is divided by two, and you make two equal payments on set days each month (e.g., 1st and 15th)

✔ Can align your payments with paydays to help manage cash flow

✔ More frequent payments allow you to reduce your interest over time

3. Bi-weekly (non-accelerated) payments

✔ Calculated by taking your monthly mortgage payment, multiplying it by 12 months, and then dividing it by 26. You pay this amount every second week.

✔ Can align your payments with paydays to help manage your cash flow

✔ Great for you if you’re seeking balance with consistency and faster repayment

4. Weekly (non-accelerated) payments

✔ Calculated by taking your monthly mortgage payment, multiplying it by 12 months, and then dividing it by 52. You pay this amount weekly all year.

✔ Allows those with weekly paydays to align payments to income cycle

✔ Can further reduce interest over time

5. Bi-weekly accelerated payments

✔ Calculated by dividing your mortgage payment by two. You pay this amount every second week.

✔ Equals one extra monthly payment per year

✔ Allows you to pay off your mortgage sooner

6. Weekly accelerated payments

✔ Calculated by dividing your monthly mortgage payment by four. You pay this amount every week.

✔ Equals one extra monthly payment per year

✔ Allows you to pay off your mortgage sooner

Payment schedule options

Have questions? That’s what we’re here for!