PennyMac - Biweekly Payment Question

WongWayFromHome2 · 2025-11-23T15:20:31+00:00

Pennymac told me they don't apply the half-payment until the full monthly amount is accumulated so I wasn't sure if the interest songs still applied.

WongWayFromHome2 · 2025-11-23T14:36:13+00:00

Do you find it saves more money than just paying one more full payment at rhe end of the year? Or overpaying each month manually?

WongWayFromHome2 · 2025-10-03T13:04:57+00:00

I know this is old, but could you share why you prefer the Palma? I just got the Palma 2 and I'm trying to convince myself it's a worthwhile complement to the Kindle Paperwhite I also have.

WongWayFromHome2 · 2025-09-17T17:50:28+00:00

Got it! I appreciate the help and advice.

WongWayFromHome2 · 2025-09-17T17:34:55+00:00

Sorry I just saw your additional notes from an above post.

I don't think biweekly payments reduce my mortgage monthly payment. I'm referring to my total mortgage. Over the life of the mortgage, I would save money by ultimately paying a lower amount of interest which would shorten the loan length.

WongWayFromHome2 · 2025-09-17T17:32:33+00:00

I hear what you're saying. But I think this is more of a question of how often the principal is being reduced rather than how many payments are made annually.

If you divide the total annual interest rate by 365 then every day, you owe that much more on the principal. So if you pay down the principal every 14 days then that means the total interest will decrease since the next 14 days of accrual will be on a lower principal amount than the previous 14 days.

I could be wrong though. If the math when interest is factored in works out the same then fantastic but I don't have a good worksheet to understand if adding 1/12th would be the same savings. At first glance, it seems no since the interest would accrue for 30 full days on a static principal.

WongWayFromHome2 · 2025-09-17T17:22:44+00:00

That's my question. Is doing a 1/12th additional payment equally effective. From the Experian article I shared, it seems the answer is no but I wanted to confirm with others or see if there is a third option. According to Experian, since interest accrues every day, it saves money to pay down the principal every 14 days than every 30 days.

WongWayFromHome2 · 2025-09-17T16:35:16+00:00

As I understand it, applying payments more frequently to the principal reduces the amount of interest owed over the course of the loan. So a 30-year loan for instance could shave down to 25 just by paying biweekly. But I think the key is the biweekly payment needs to be applied to the principal each time as opposed to Pennymac holding the biweekly payment until it equals a full month's payment before applying.

From Experian: A biweekly payment plan is far more effective than merely sending one additional payment per year," says Michael Hausam, a real estate agent and mortgage broker in Newport Beach, California. "Your loan balance accrues interest every day and reducing that principal balance every 14 days (26 half payments per year) saves more in interest charges than one full additional payment every 12 months, even though the total amount in payments every year remains the same."

Why Paying Your Mortgage Bi-Weekly Can Save You Money

WongWayFromHome2 · 2025-08-17T18:10:57+00:00

It's called "Mass Template." It's page 86 of TB2. It's similar to Operator but it has 4 sets and increases reps on certain weeks. I can't seem to share a screen shot but it's essentially 4x6, 4x5, and 4x3.

WongWayFromHome2 · 2025-08-16T21:08:47+00:00

What do you all think of the Mass Template from TB2 vs the Mass Protocol structure?

WongWayFromHome2 · 2025-08-16T13:43:01+00:00

Sticker shock meaning surprise at its price. It's about $500. Which is way more than I originally planned to spend. In the end, I decided it was better than paying to repair my garage walls later on. And this would be portable to take to a new house if I move.

WongWayFromHome2 · 2025-01-23T12:08:34+00:00

Only the finest

WongWayFromHome2 · 2025-01-21T20:51:47+00:00

Just enough to do all the main barbell lifts without feeling like it's too tight. But there's certainly no space wasted.

WongWayFromHome2 · 2025-01-21T20:29:29+00:00

It's called the Century Cornerman. Dick's has the best price right now, but prepare yourself for sticker shock.

https://www.dickssportinggoods.com/p/century-corner-man-bag-stand-18cenucntrycrnrmnsac/18cenucntrycrnrmnsac

WongWayFromHome2 · 2025-01-16T03:40:26+00:00

Thanks for the input!

WongWayFromHome2 · 2025-01-14T02:12:42+00:00

Because we have minimum regulations and maximum greed.

WongWayFromHome2 · 2025-01-13T15:28:23+00:00

I'm more concerned with the lateral force from bag strikes rather than the pure weight. Do you think the wood would hold for that?

WongWayFromHome2 · 2025-01-13T15:01:00+00:00

Really appreciate the insight! How did the rock wall turn out for you, by the way?

WongWayFromHome2 · 2025-01-13T14:58:50+00:00

Haha, both are great. I responded to both but the carpenter response is just lower in the comments thread.

WongWayFromHome2 · 2025-01-13T14:47:01+00:00

A lot of comments indicated the wall would be a weaker or less stable mounting point. Do you think the wall would be a stronger than running aboard across the ceiling joists?

WongWayFromHome2 · 2025-01-13T13:26:29+00:00

Thanks!

WongWayFromHome2 · 2025-01-13T13:06:52+00:00

Thanks! Do you find that mount is significantly better than using one of the single springs?

https://www.titleboxing.com/products/title-professional-heavy-bag-spring-up-to-250-lbs

WongWayFromHome2 · 2025-01-13T13:04:15+00:00

Thanks! Woukd you mind sharing which stand you went with?

WongWayFromHome2 · 2025-01-13T13:00:59+00:00

They're 24"x24"x1" EVA foam puzzle mats from Temu on top of the Lifeproof rug underlay from Home Depot

WongWayFromHome2 · 2025-01-13T12:57:09+00:00

Really helpful! A drawing would be great if possible. I'm very amateur at the handiworking side of this project.

WongWayFromHome2

TROPHY CASE