Mortgage Savings Calculator

After using this calculator check with your bank of financial institution to make sure that you are allowed to make payments fortnightly as opposed to monthly. If you are in the fortunate position of being paid weekly, then try to pay your mortage off weekly. You'll be amazed with the results. Even additional small payments can make a difference of thousands over the life of the loan.

Bi-Weekly Mortgage Calculator
This 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 your about to discover, you will certainly notice the increased cash flow that will occur when you pay your mortgage off way ahead of schedule!
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: (principal and interest portion only):
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:

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This site is for informational purposes only and should not be construed as financial advice.

Always read the disclaimer and consult a finance professional before acting on any information found here.