Use this calculator to determine the amount of money and payment term length that you could save by making bi-weekly instead of standard monthly payments. Similar to the Mortgage Length Calculator, it also uses your tax rate to compute your total savings and benefits over the life of the loan.

Paying off your mortgage sooner will allow you to save on your total interest charges. Be sure to check your mortgage for any Prepayment Penalty and its terms before paying any additional amounts.

To use the calculator, enter the following information:

Loan Information: Amount (of mortgage), Interest Rate and Length (in years).
Your Tax Rate: Tax Rate.

The calculator can also produce a PDF output file for download, and you can click the check box to view the Schedule Table for the time frame selected. The Schedule Table fields include: Number (of payment month), Interest, Tax Savings, Principal, and Balance. It also shows totals for every field after each year of the mortgage.

Input Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Years)
Your Tax Rate
Tax Rate : (%)
 Let Me Print That Form in PDF!

Financial Analysis
  Standard Bi-Weekly
Length : 30 Yrs 0 Mts 25 Yrs 5 Mts
Time Saved : 4 Yrs 7 Mts
Monthly Payment : $1,304.12 $1,412.79
Total Interests Paid : $219,482.60 $180,208.11
Interest Savings : $39,274.49
Tax Savings : $57,065.48 $46,854.11
Tax Saving Losses : $10,211.37
Total Benefits : $29,063.12

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