One of the more interesting mortgage payment options is what is known as a biweekly mortgage. This is a great way to reduce the amount of interest you pay overall on your home mortgage loan. Bankrate.com explains how the biweekly mortgage can help you chip away at your interest charges:

What will chop away at your interest are the two additional half-payments going toward the principal each year. In other words, by making 26 payments of half your mortgage, you are in effect making 13 monthly payments instead of the customary 12.

Because our calendar system does not allow for the same amount of days in each month, there are extras, and that is what adds up to the extra mortgage payment a year on this schedule. If you can manage it, paying half your mortgage payment every two weeks can be a great way to pay your home loan off early, and save on interest.

Just watch out, though. Some lenders would never dream of letting you save all that money without benefiting as well. Check for enrollment fees and transaction fees before making the switch.