This calculator will show you 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. In effect, you are making one extra mortgage payment per
year!
Note: When entering numbers into the data fields only use
numbers and applicable decimal points. Entering commas, dollar signs, or any
other non-numeric characters will cause an error.This calculator has been tested
to work with Internet Explorer 3.01 and Netscape Navigator 3.01 web browsers.
Both must have the JavaScript option turned on.
Enter the
principal balance of your mortgage: (Call your mortgage lender and ask
for the current payoff amount)
Enter the
amount of your monthly mortgage payment:
Enter the your mortgage's current interest rate:
This is
how much interest you will pay under your current monthly payment
plan:
This is
how much interest you will pay if you switch to a bi-weekly mortgage payment
plan:
Bi-weekly
Mortgage Interest Savings:
The
accuracy of this calculator and its applicability to your circumstances is not
guaranteed. Results should be discussed with a qualified professional
before any product purchases or loan commitments are made.
