Bi-Weekly Mortgage Calculator – (Includes Optional Extra Payment & Amortization Schedule)
 
 

Bi-Weekly Mortgage Calculator - Extra Payment

This bi-weekly mortgage calculator has more features than most including the ability to add an extra payment and print amortization schedules.

Use this calculator to figure how much interest you can save by making 1/2 of your mortgage payment every two weeks instead of a full payment monthly. The net effect is just one extra mortgage payment per year but the interest savings can be dramatic.

Also, this calculator has the ability to add an extra amount (extra payment) to the monthly mortgage and turbo charge your interest savings. With this unique 4 column format you can compare scenarios side-by-side, print amortization schedules, and plan your payoff strategy.

Finally, if you're not sure how much extra payment to add to payoff your mortgage by a given date try this mortgage payoff calculator here to figure the payoff in terms of time instead of interest saved.
Current mortgage's beginning loan amount:
Current interest rate (%):
Original loan term (months):
Total monthly payment (including tax & insurance):
Number of payments already made:
Date next payment due:
Extra amount you could comfortably add to the payment each month:
Current mortgage payment less escrow:
Interest you've already paid:
Current approximate balance of your mortgage:
Results Current Current Plus Extra Bi-Weekly Bi-Weekly plus Extra
Mortgage payment:
Years to pay off:
Interest savings:
Payments eliminated:
Total savings:
Equity after 5 years:
Equity after 10 years:
Balance years later:
Results (continued) Current Current plus Extra Bi-Weekly Bi-Weekly plus Extra
Avg. monthly savings:
Avg. annual savings:
Equivalent interest rate:
Savings years later:*
Payment Schedules:**
*Based upon a 10% yield of the money saved over the life of the loan.
**Payment schedules may take a while to appear -- depending on the speed of your computer and the number of payments remaining.

 






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