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Bi-Weekly MortgageCalculation
Calculates how much you will pay over the life of the loan when paying bi-weekly.
Principal Loan Balance:
$
Annual Interest Rate:
%
Number of Years:
Results
Principal Remaining after each year if paying:
Year
Monthly
Bi-Weekly
1
$148,746.95
$147,646.31
2
$147,389.91
$145,097.26
3
$145,920.22
$142,336.64
4
$144,328.56
$139,346.89
5
$142,604.79
$136,109.00
6
$140,737.94
$132,602.36
7
$138,716.15
$128,804.67
8
$136,526.55
$124,691.78
9
$134,155.21
$120,237.51
10
$131,587.06
$115,413.55
11
$128,805.74
$110,189.20
12
$125,793.59
$104,531.23
13
$122,531.42
$98,403.65
14
$118,998.49
$91,767.48
15
$115,172.34
$84,580.52
16
$111,028.61
$76,797.04
17
$106,540.96
$68,367.54
18
$101,680.84
$59,238.39
19
$96,417.33
$49,351.53
20
$90,716.94
$38,644.07
21
$84,543.43
$27,047.89
22
$77,857.53
$14,489.23
23
$70,616.69
$888.21
24
$62,774.87
$0.00
25
$54,282.18
$0.00
26
$45,084.60
$0.00
27
$35,123.63
$0.00
28
$24,335.90
$0.00
29
$12,652.80
$0.00
30
$1,093.36
$0.00
Summary
Mortgage payment when paying:
Monthly
$1,100.65
Bi-Weekly
$507.99
Number of years for mortgage payoff when paying::
Monthly
30
Bi-Weekly
23
Explanation
Many find the bi-weekly Mortgage attractive because this mortgage alternative reduces the number of payment years and reduces total interest paid on the loan.
The results of this calculation are not binding and in no way constitute an offer to extend credit.
Calculator Disclaimer
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