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This Bi-Weekly Mortgage Calculator makes the math easy. It will figure your interest savings and payoff period for a variety of payment scenarios. You can make biweekly payments instead of monthly payments, and you can make additional principal payments to see how that also accelerates your payoff.
Biweekly vs Monthly Loan Calculator. This calculator will help you to compare the costs between a loan that is paid off on a bi-weekly payment basis and a loan that is paid off on a monthly basis. You can use this for any type of loan including home loans. We also offer a separate biweekly mortgage calculator.
This calculator also allows you to generate amortization schedules for the original loan, a loan with extra monthly payments, a loan with biweekly payments, and a loan with biweekly payments combined with extra payments.
The loan amortization calculator with extra payments gives borrowers 5 options to calculate how much they can save with extra payments, the biweekly payment option, one time lump sum payment, extra payments every month, quarter, or year.
Biweekly Mortgage Payment Calculator. How to use a biweekly mortgage payment calculator. This tool helps you decide whether it makes sense to accelerate your monthly mortgage...
The calculator will calculate the time and interest savings that will occur if you switch from making monthly mortgage payments to paying 1/2 of your mortgage payment -- plus an overpayment amount -- every two weeks (the equivalent of 13 monthly payments per year instead of 12).
This calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. In effect, you will be making one extra mortgage payment per year -- without hardly noticing the additional cash outflow.
