www.decisionaide.com Calculators

2bi

Mortgage Prepayment Calculator

Biweekly Payments Applied BiWeekly

Who This Calculator is For: Borrowers who want to know when their loan will pay off,
and how much interest they will save, if they use a biweekly payment plan,
and if they make extra voluntary payments in addition to their required biweekly payment.

What This Calculator Does:This calculator provides amortization schedules for
biweekly payment mortgages, with or without additional payments,
where the payments are applied biweekly.

Enter Loan Information

  New Loan Amount or Existing Loan Balance (e.g. 100000)

  Interest Rate (e.g. 7.50)

  New Loan Term, in Months (e.g. 360)

  Number of Biweekly Payments in First Year? (1 to 26 - default is 26)

DO NOT USE DOLLAR SIGNS ($), COMMAS (,) PLUS OR MINUS SIGNS ( + / - )
OR PERCENTAGE SIGNS (%) IN ANY INPUT BOXES

Enter Extra Payments

Change
Intervals Amount
of Change Starting With
Payment # Duration Ending With
Payment #

Read What the Mortgage Professor Says About Paying Off Early

Design & Programming by

On old loans, the period remaining equals the original term, in years, times 26, less the number of biweekly payments you have made. This item is optional. If you want to know your interest payments for the remainder of the first year, indicate the number of biweekly payments you will be making in the first year. The program will default to a full year (26 payments).

Enter Loan Information
New Loan Amount or Existing Loan Balance (e.g. 100000)
Interest Rate (e.g. 7.50)
New Loan Term, in Months (e.g. 360)
Number of Biweekly Payments in First Year? (1 to 26 - default is 26)

Enter Extra Payments
Change Intervals	Amount of Change	Starting With Payment #	Duration	Ending With Payment #