Bi-Weekly Mortgage Calculator

 

Pay Your Mortgage Early...

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. But, as you're about to discover, you will certainly notice the increased cash flow that will occur when you pay your mortgage off way ahead of schedule!

Instructions: Complete the top 5 entry fields and click the "Compute" button. If you are entering data for a future mortgage, you can leave the "Current monthly mortgage payment" field blank, and the calculator will compute the payment for you.

Dollar amount of your mortgage:
Interest rate of your mortgage:
Term of your mortgage in months:
Current monthly mortgage payment:
Number of monthly payments you have already paid:
Your Current Mortgage
Dollar amount of your mortgage:
Percentage rate of your mortgage:
Your current monthly payment:
Total Interest paid:
Paid off in:
With the Bi-Weekly Plan
Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:
If You Pay an Additional $25 Every Payment
Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:  
Number of payments saved:
Equivalent interest rate:
Save Even More by Paying an Additional $50 Every Payment
Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:
Please note: All of our Calculators are used for estimation purposes only and should not be considered final or guaranteed. Let us know if you want to go over your individual situation.

More financial calculators... Click here.

NCUA