roxannamcconne

Bi-Weekly Mortgage Calculator

New Visitor? Start Here
Member Login

– Home
– Calculators +
– Resources +
– Topics +
– Products +
– Coaching +
– Podcast +
– About +

( Includes Optional Extra Payment & Amortization Schedule)

This bi-weekly mortgage calculator has more features than a lot of consisting of the … show more instructions ability to add an additional payment and print amortization schedules.

Use this calculator to figure how much interest you can conserve by making 1/2 of your mortgage payment every two weeks instead of a complete payment monthly. The net result is simply one additional mortgage payment per year however the interest savings can be dramatic.

Also, this calculator has the capability to include an extra quantity (extra payment) to the month-to-month mortgage and turbo charge your interest savings. With this special 4 column format you can compare scenarios side-by-side, print amortization schedules, and prepare your reward technique.

If you’re not sure just how much extra payment to contribute to reward your mortgage by an offered date attempt this mortgage benefit calculator here to figure the reward in regards to time rather of interest saved.

And when you’ve executed your mortgage benefit technique then find out how to grow your wealth even faster with this 5 lesson video series – definitely complimentary!

How to be a pro at growing your wealth|Learn more →

Bi-Weekly Mortgage Calculator

Current mortgage’s beginning loan quantity:
Current rates of interest (%):.
Original loan term (months): Calc Months 5 years 10 years 15 years 20 years 25 years thirty years.
Total monthly payment (including tax & insurance coverage):.
Number of payments already made:.
Date next payment due: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038. Extra amount you could easily contribute to the payment monthly: Email My Results. Click on this link Current mortgage payment less escrow:. Interest you have actually currently paid:.
Current approximate balance of your mortgage:. Results Current Current Plus Extra Bi-Weekly Bi-Weekly plus Extra.

Mortgage payment:.
Years to settle:.
Interest cost savings:. Payments removed:.
Total savings:. Equity after 5 years:. Equity after ten years:.
Balance years later:
. Results (continued) Current Current plus Extra Bi-Weekly Bi-Weekly plus Extra.
Avg. regular monthly savings:.
Avg. yearly cost savings:.
Equivalent rate of interest:. Savings years later: *. Payment Schedules: **. * Based upon a 10 %yield of the cash conserved
over the life of the loan
. ** Payment schedules might take a while to appear– depending on the speed of your computer system and the number of payments staying.” Discover The Comprehensive Wealth Planning Process Proven Through 20 +Years Of Coaching That Will Give You Complete Confidence In Your Financial Future “- Get a step-by-step action plan to accomplish financial independence- totally personalized to you.- How to live for fulfilment now, while constructing wealth for the future. -No more procrastination. No more

confusion. Just progress and clarity. Expectancy Wealth Planning will reveal you how to create a monetary roadmap for the rest of your life and provide you all of the tools you to follow it. Just How Much Can You Save By Making Bi-Weekly Mortgage

Payments? Do you wish to pay off your mortgage early? Uncertain where you will discover the extra funds to make it happen? Thankfully, you can considerably decrease

your debt without feeling pinched by making biweekly mortgage payments

. This Bi-Weekly Mortgage Calculator makes the mathematics easy. It will figure your interest savings and benefit duration for a range of payment situations. You can make biweekly payments instead of month-to-month payments, and you can make extra principal payments to see

how that also accelerates your reward. Each of these payment alternatives will take you closer to being financial obligation free. Here’s everything you require to know to begin … How

Bi-Weekly Mortgage Payments Work Making biweekly mortgage payments is a method that can help you save a lot of cash in interest and pay off your mortgage early. Instead of making one payment on a monthly basis, you’ll be making a payment

every other week. This bi-weekly pattern stands out

from a bimonthly mortgage payment which may or might not include additional payments. With a bi-weekly payment you’ll be be making 26 payments instead of 12 -albeit smaller payments. The net effect resembles one additional regular monthly payment (13) each year. Related: Here’s a scientific system to develop your wealth now Completion result of paying every 2 weeks is you’ll be paying more every year, despite whether you make additional primary payments in addition to your biweekly payment. This needs little sacrifice, but gains big savings as you can see when you input your mortgage payment information into this Bi-Weekly Mortgage Calculator. Are Bi-Weekly Payments Right For You? Before

you start bi-weekly payments make certain it is a good fit for your scenario. Here are the essential indicate consider: Do you plan to remain in your home enough time? If you plan to remain in your home for a brief time, like 5 to 7 years, then you may be much better off focusing your money in some other financial investment. Bi-weekly payments have a

larger effect when you stick with it long enough

to make a difference. Are you nearing your retirement? Using your retirement savings to accelerate your mortgage reward includes complicated analysis to determine what is finest. There are tax factors to consider on both sides of the cost savings equation. It also involves estate planning, possession security, and much more than can be covered in this short post. Please seek advice from a certified financial professional if this is your situation.
Are you paid enough every two weeks? Bi-weekly mortgage payments work best when you are paid every other week and your income is high enough to support the payment. It is simpler to match your largest expense( mortgage payment )to your earnings when the payment period matches your pay duration. Similarly, if you are paid monthly then it is generally much easier to stick with a monthly payment period and just include additional principal to accelerate your benefit. Have you examined other financial investment choices? You ought to constantly invest your money in whatever provides the highest after tax return. Before accelerating your mortgage think about competing investment alternatives for constructing equity. How To Set Up Bi-Weekly Payments Once you’ve identified biweekly payments( and/or additional payments) are right for you, it’s time to set it up and start saving! Many banks and mortgage business will enable you to reconfigure your current mortgage into a biweekly payment plan. You’ll need to call and ask because they generally don’t promote this feature. Alternatively, you can simply split your own mortgage payment in half, and pay that amount every two weeks.
Completion result will be the same, but

you won’t have the ease of automation you might desire. However, verify with your bank first that this will still satisfy your payment terms and not

trigger a prepayment penalty or other issues. If you pick to add extra principal to your needed payments, you may need to talk to your mortgage holder to find out if anything is required so that the extra cash goes straight to principal instead of simply prepaying needed payments. Final Thoughts The terrific aspect of the bi-weekly mortgage benefit strategy is you can quickly minimize your mortgage loan term by 6 to 8 years. In addition, if you are receiving your income every 2 weeks it can actually be easier to utilize biweekly mortgage payments than regular monthly payments

. Related: Why you need a wealth plan, not a monetary strategy. If you’re still confused whether this payment alternative is best for you, utilize the biweekly mortgage calculator above to assist you see the overall savings that you could be getting. Also, make sure to print out amortization

payment schedules to

keep you on track! Bi-Weekly Mortgage Payment Calculator Terms & Definitions: Bi-Weekly Payments -Payments that occur as soon as every 2 weeks. Mortgage Loan- The charging of real residential or commercial property by a debtor to a financial institution as security for a debt. Principal Amount- The total quantity borrowed from the lending institution. Interest- The portion rate

charged for obtaining cash. Payment- The amount you spend for goods

, services, or debts sustained. Amortization Schedule- A table of all payments for the whole loan term showing each payment broken out into interest, principal, and remaining loan balance. Loan Term -The amount of time to pay the loan off. Due Date- The day on which payments are required. Borrower -An entity receiving cash with a guarantee to

pay it back with interest. Lender -An entity that lends money to a person. Escrow – Money held by a third celebration to pay a celebration that is owed, in this case, normally residential or commercial property taxes and insurance. Extra Payment- Payments made above and beyond the required quantity. Related Mortgage Calculators:
Mortgage Payment Calculator With Amortization Schedule: How much will my monthly mortgage payment be? Includes taxes, insurance, PMI, and amortization schedule for useful referral. Mortgage Payoff Calculator: Just how much additional payment should I make
each month to settle my mortgage by a specific date( and just how much interest will I conserve )? Mortgage Balance Calculator: What is my mortgage balance offered the number of payments I’ve currently made (or still need to make )? Mortgage Refinance Calculator: How long will it require to break-even on my refinancing expenses and what will be my overall interest cost savings?
Interest Only Mortgage Calculator: Just how much lower will my payment be on an interest just mortgage compared to a standard concept and interest home loan?
Second Mortgage Calculator – Consolidate Savings With Refinance: How much will I save consolidating my first and 2nd mortgages into a brand-new first mortgage?
Rent vs. Buy Calculator: Should I lease or buy? What’s the better offer?
Mortgage Affordability Calculator: Just how much home can I pay for if I paid the exact same quantity in mortgage as I pay in lease?
ARM Mortgage Calculator: How does an adjustable rate home loan (ARM) compare to a fixed rate home mortgage over the life of the loan (rather than just the teaser payment)?
Balloon Mortgage Calculator: How much will I owe (balloon) at the end of the payment duration?

The One Decision That Can Make Or Break Your Financial Future

There are just four courses you can pick from.

Click listed below to discover which course is best for you, and why.

Yes! Tell Me About Expectancy Wealth Planning strategy

Expectancy Wealth Planning

Our Flagship Financial Freedom Course
Discover more →

Invest Like Todd

Make more by running the risk of less
Learn More →

Mortgage Amortization Calculator
Bi-Weekly Mortgage Payment Calculator
Mortgage Balance Calculator
Mortgage Refinance Calculator

Related Tools

Today’s Lowest Mortgage Rates
Check Your Credit History: 3 Totally Free Ways

Click Below To Learn How To …

Invest smart. Build wealth. Retire early. Live totally free.