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Biweekly Mortgage Payment Calculator for an Existing Mortgage

Get a Biweekly Mortgage Payment Calculator for an Existing Mortgage branded for your website! Colorful, interactive, simply The Best Financial Calculators!

This calculator shows you possible savings by using an accelerated biweekly mortgage payment. By paying 1/2 your monthly payment every two weeks, each year your mortgage company will receive the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your mortgage and save you thousands of dollars in interest.

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For more information about these financial calculators please visit: Dinkytown.net Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Financial Calculators from
Dinkytown.net

*indicates required.

Mortgage information:

First payment date:*This entry is required.Please enter a valid date for First payment date

Original mortgage amount:*This entry is required.Enter an amount between $1,000.00 and $10,000,000.00

Interest rate:*This entry is required.Enter an amount between 0% and 24%

Original mortgage term:*This entry is required.

Monthly escrow payment:*This entry is required.Enter an amount between $0.00 and $15,000.00

Monthly prepayment amount:*This entry is required.Enter an amount between $0.00 and $15,000.00

Normal payment:

Accelerated payment:

**FIG_GRAPHTITLE** Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Accelerated repayments pay off mortgage in KJE1 years.

Biweekly Mortgage Payment Calculator for an Existing Mortgage Definitions

Biweekly payments

Biweekly savings are achieved by simply paying your monthly mortgage payment every two weeks and making 1 1/2 times your monthly mortgage payment every sixth month. By the end of a year you would have paid the equivalent of one extra monthly payment. This additional amount accelerates your loan payoff by going directly against your loan's principal. The effect can save you thousands of dollars in interest and take years off of your mortgage.

Mortgage amount

The total dollar amount for this mortgage.

Interest rate

The interest rate on this mortgage.

Original mortgage term

The number of years over which you would repay this loan if you made your normal monthly payment. The most common terms for mortgages are 15 years and 30 years.

First payment date

The date your mortgage started. The tool uses this date to calculate the time and balance remaining on your loan.

Monthly escrow amount (optional)

If you pay escrow, this is the monthly escrow amount due. With the bi-weekly program 1/2 of this amount will be paid every two weeks.

Monthly Prepayment amount (optional)

Prepayment increases your savings even more. An additional payment is strictly optional. If you are also prepaying, please include your monthly prepayment amount. With the bi-weekly program 1/2 of this amount will be debited every two weeks.