Bi-weekly Payment Calculator

Bi-weekly Mortgage Calculator

This calculator shows you possible savings by using an accelerated bi-weekly mortgage payment. Bi-weekly payments accelerate your mortgage payoff by paying 1/2 of your normal monthly payment every two weeks. By the end of each year, you will have paid 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. Click on the "View Report" button to see your savings!

This Financial Calculator requires SUN's Java Plug-in. If you see this message you will need to download SUN's Java Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing Install ActiveX Control.

Get the Java Plug-in!

For more information about this Plug-in please visit: SUN's Java Plug-in
For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Accelerated weekly and bi-weekly payments

Accelerated weekly and accelerated bi-weekly payment options are calculated by taking a monthly payment schedule and assuming there are only four weeks in a month. We calculate an accelerated bi-weekly payment, for example, by taking your normal monthly payment and dividing it by two. Since you would pay 26 bi-weekly payments, 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.

The accelerated weekly payment is calculated by dividing your monthly payment by four. You would then make 52 weekly payments. Just like the accelerated bi-weekly payments, you are in effect paying an additional monthly payment each year.

Mortgage amount

The total dollar amount for this mortgage.

Interest rate

The interest rate on this mortgage.

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.

All Information Contained Within This Website Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. External Links Are For Your Convenience Only And Are Not Necessarily A Recommendation or Reference. All Information Provided By The External Links Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. As With Everything, Information Should Be Independently Verified.

It is illegal, pursuant to the Ohio Fair Housing Law, Division (H) of Section 4112.02 of the Revised Code and the Federal Fair Housing law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services.

It is also illegal, for profit, to induce or attempt to induce a person to sell or rent a dwelling by representations regarding the entry into the neighborhood of a person or persons belonging to one of the protected classes.