Mortgage Calculator with Bi Weekly Payments
This **mortgage calculator with bi weekly payments** helps you quickly estimate the interest you can save and the time you can shave off your loan simply by making half your regular monthly payment every two weeks. It's a powerful tool for accelerating your mortgage payoff.
Calculate Your Bi-Weekly Payment Savings
Enter your current mortgage details to see the difference a bi-weekly payment schedule can make.
Example Bi-Weekly Payoff: 21 years and 3 months
Assuming a **\$300,000** loan at **6.5%** over **25 years**, switching to a **bi-weekly payment** schedule shortens your term by 3 years and 9 months. This results in an estimated interest savings of **\$23,890.00** over the life of the loan. Run your numbers above!
| Interest Savings $23,890 |
Time Savings 3 years and 9 months |
|---|---|
|
Monthly Total: \$373,780
Bi-Weekly Total: \$349,890
Pay 6.4% less on interest
|
Original Term: 25 yrs
New Payoff: 21 yrs, 3 mos
Payoff 15% faster
|
| Standard Monthly | Bi-Weekly Payment | |
|---|---|---|
| Monthly Payment | $1,896.20 | $1,896.20/mo |
| Payments Per Year | 12 | 26 (13 full payments) |
| Total Interest Paid | $373,780.00 | $349,890.00 |
| Time to Payoff | 25 yrs, 0 mos | 21 yrs, 3 mos |