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I currently have a Fixed 30 Yr Mortgage in which the bills are due montly. I am interested if anyone knows what would happen if I paid half the amount 2 times per month.

For example, I have a monthly payment of $1,000/month due on the 1st of every month. Lets say I sent them a payment of $500 on the 5th of the month prior to the due date, and another payment of $500 on the 20th of the month prior to the due date. Would this effectively lower my total interest paid (making it similar to a biweekly mortgage) or do the lenders only count "odd payments towards principal and would still expect me to pay the $1,000 at the end of the month.

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