| Biweekly
Mortgage
Calculator |
| This
bi weekly mortgage calculator will demonstrate how much you can
save if you make 1/2 of your mortgage payment every two weeks instead
of making a full
mortgage payment once a month. Effectively, you will be making one
supplementary mortgage payment
per year - without noticing the additional cash outflow.
However, you will definitely notice the increased cash flow that will
happen when you pay
your mortgage off way ahead of schedule. |
Enter
the principal balance of your mortgage here:
(contact
your mortgage lender and demand the current payoff amount) |
|
Here,
enter the amount of your monthly mortgage payment:
(principal
and interest portion only) |
|
| Enter
the current interest rate of your mortgage: |
|
| |
| This is
how much interest you will pay under your existing monthly payment plan: |
|
| This is
how much interest you will pay if you switch to a biweekly mortgage
payments plan: |
|
| Biweekly mortgage interest savings: |
|
|
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