Someone offered me the ability to make 26 bi-weekly mortgage payments a year for a fee. Is there a way I can pay down my loan faster on my own without paying a fee to sign up for this plan?

In the bi-weekly payment plan, the servicer is collecting half of your monthly payment every two weeks, resulting in 26 payments over the course of the year (totaling one extra monthly payment per year). By making additional payments and applying your payments to the principal, you may be able to pay off your loan early. Before choosing a bi-weekly payment, be sure to review your loan terms to see if you will be subject to a pre-payment penalty if you do so. Check if your servicer charges any fees for a bi-weekly payment plan. You may be able to accomplish the same goal without the fee by making an extra monthly mortgage payment each year.

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