<prompt> Human: Ive heard it mentioned that you can pay down a mortgage faster by paying biweekly instead of once a month. I understand this to be because youd end up making 26 payments instead of 12. However, I only get paid twice a month 1st and the 15th, so at best I could only do 24 payments. Would it still be worth it to make 24 half payments instead of 12, or is the only advantage coming from making 26 which is essentially a month extra?Also, Ive heard about the point system in regards to mortgages, but I cant wrap my head around it. Any clarity would be appreciated.  <response>: or is the only advantage coming from making 26 which is essentially a month extra?Pretty much. If you cant manage a biweekly plan because of the way youre paid although if youre budgeting correctly and have a mortgage within your means, it doesnt matter when youre paid, you can achieve the same effect by taking your monthly payment, dividing it by 12, and adding that amount to your monthly payment. For your question regarding points, youre basically paying upfront for a reduced interest rate, and in most cases this only helps when you plan to keep the same mortgage no selling or refinancing for many years. 1 of your loan amount 1 discount point. In most cases, 1 discount point 0.25 reduction in interest rate. This will reduce your monthly payment and theres a certain break even point several years down the line where the amount saved in interest is greater than the upfront cost you paid for the reduction. If youre interested, you can always ask your mortgage company to prepare a chart showing you your break even point. 