Precast concrete is a construction product produced by casting concrete in a reusable mold or form which is then cured in a controlled environment, transported to the construction site and lifted into place. In contrast, standard concrete is poured into site-specific forms and cured on site.
What They Are. Semi-monthly payments are payments made twice per month on the 1st and 15th rather than once per month on your regular due date. The balance due remains unchanged; if your mortgage is $1,200 per month, you would make a payment of $600 twice each month.
How They Work. True semi-monthly payments are applied to your account immediately, reducing your balance due two weeks early. The principal decreases, thereby decreasing the amount of interest owed. During the course of one year, you will not notice a huge difference, but spread over time, the payments will result in significant savings.