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Bi-Weekly Mortgage Payment Calculator

We have plenty of calculators that tell you how much you can save in interest charges buy making an addition to your regular payment. This calculator address the special case where you want to make a bi-weekly payment instead of monthly. The theory is that you will knock off a little extra interest payment by paying each month twice. Some online companies offer to do this for you. We do not recomment this arrangement. Why pay an outside company a fee when all you have to do is add extra to your regular payment? But for those who want to see here it is.
Use this calculator to see how much you will save and how much earlier you will pay off your mortgage if you make bi-weekly payments; each of which is 1/2 your monthly payment.
Mortgage Loan Information
Amount of original Mortgage:
Annual Interest Rate:
or     
Monthly Payment:
%

Mortgage Term (in years):
When did you make your first payment on this loan: