Biweekly Mortgage Calculator

Select currency, enter value and click on calculate. Result will be displayed.

Currency:

Total Loan Amount:

Annual Interest Rate:

Repayment Period:

Years

Standard Monthly Mortgage Payment:

Standard Biweekly Mortgage Payment:

Repayment Period of Standard Mortgage:

Months

Repayment Period of Biweekly Mortgage:

Months

Standard Mortgage Amount:

Biweekly Mortgage Amount:

Total Interest Savings:

A Biweekly Mortgage Calculator is an online tool or app that helps you calculate the impact of making biweekly mortgage payments instead of monthly payments. By entering details like your loan amount, interest rate, and loan term, it calculates how much your biweekly payment would be and the potential savings in terms of interest and the reduced length of your loan.

Key Features:
Biweekly Payments: Instead of making one full monthly payment, you make half the payment every two weeks. This leads to 26 half-payments (or 13 full payments) in a year, compared to 12 monthly payments.

Faster Loan Payoff: Since you're making an extra payment each year, your mortgage is paid off faster. This can save you thousands of dollars in interest over the life of the loan.

Interest Savings: Because you're paying off the principal faster, the interest is calculated on a smaller balance, reducing the total amount of interest you pay over time.

How It Works:
To use the calculator, you usually need to input:

Loan Amount (Principal)
Annual Interest Rate
Loan Term (in years)
Payment Frequency (monthly or biweekly)
The calculator then gives you:

Your biweekly payment amount
Total interest savings over the life of the loan
Time saved on your mortgage term
Example Scenario:
If you have a $200,000 mortgage at 4% interest for 30 years, the calculator will show how much your regular monthly payment would be and how much faster you would pay off the loan and save in interest if you switch to biweekly payments.