Bi-Weekly Mortgage Amortization
Pay Bi-Weekly and Save, Save, Save!
What is Bi-Weekly Mortgage Amortization?
The Bi-Weekly Mortgage program is designed to show you the savings of paying your mortgage bi-weekly (every other week), rather than once a month.
A bi-weekly mortgage will always pay off faster than a monthly mortgage because the payment schedule is slightly accelerated—typically 26 "half" payments (equivalent to 13 full payments) are made in a year, rather than 12 full payments.
With this newly-updated utility, you'll be able to compare a conventional monthly mortgage of any size, interest rate, and number of years, with a mortgage having a bi-weekly payment equal to one-half of the conventional mortgage payment.
The popular demand for this program has been overwhelming! A side-by-side amortization schedule shows the dramatic interest savings and faster payoff of the more frequent payments. The results of making mortgage payments every two weeks are truly amazing. Your dollar savings add up quickly and you can speed your decision making by understanding the power of this simple alternative. Simply input the normal conventional mortgage information and this calculator will automatically create the bi-weekly version for you.
Benefits of this Bi-Weekly Mortgage Amortization tool:
- Gives a side by side comparison showing plainly and simply how much is saved with each payment
- A highlight box tells how much is saved in pre-tax interest over the life of the loan
- Tells how much sooner your mortgage will be paid off
- Helps you take control of your own financial matters
- Gives you the facts you need to talk to your banker when negotiating that new loan you are applying for
- Use it over and over to calculate what would be saved if you converted any of your mortgage loans to a Bi-Weekly format
- Easy to use! If you can open a file in Excel, you can use this powerful tool like an expert
Download Bi-Weekly Mortgage Amortization (230K)
for Microsoft Excel.
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