[toddrws]

I have the option to set up my payments semi monthly. My question is if the payment will be applied to the interest and principal on the 15th or wait till the 1st of the month. And if it is applied on the 15th will that lower my overall interest and term of the loan since it was applied a little earlier. I am aware that bi-weekly will give extra payment per year. My question is would bi-monthly apply towards the principal earlier result in quicker payment. I know it isn't a big difference. The question I would like to know if it knocks down my principal and interest since 1/2 is paid earlier. Are home loans calculated daily or monthly? My loan is with Wells Fargo.Bi monthly is 1st and 15th of each month not every 14 days. So it wouldn't add a payement a year but it would pay 1/2 of the payment 15 days early. I do it all online just like breakdown if it applies early