Bi-Weekly Mortgage Payments Calculator

This bi-weekly mortgage 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:
Percentage rate of your mortgage:
Term of your mortgage in months:
Current monthly mortgage payment:
Number of monthly payments you have already paid:


YOUR RESULTS: 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:

These days anyone with a mortgage has heard about the savings of making bi-weekly mortgage payments. The theory behind this is that you will be making a payment on your mortgage every two weeks rather than once a month giving you 13 monthly payments each year. Paying one extra payment per year against your principal allows you to cut years off of your mortgage. This calculator helps you by showing how much you can save on your mortgage by making bi weekly mortgage payments.

More Information on Biweekly Payments:

Remember that you cannot simply send your mortgage payment twice a month because lenders will not accept partial payments. You must enroll in a bi-weekly mortgage program which means extra fees.

Instead of paying someone to enroll you in a bi-weekly mortgage program, you can actually accomplish the same savings on your own. Simply divide your monthly mortgage payment by 12 and pay that much extra each month, notifying your lender that the extra money should be applied to your principal.

Ex. $1200 Monthly Payment / 12 Months = $100
Making a $1300 Payment Each Month gives you the same result as bi-weekly mortgage payments.