Bi-weekly Mortgage Calculator: This calculator shows the differences between a

weekly mortgage payment. Fill in the information in the white box, and your results
a visual representation of the differences between the two payment methods, see t

Principal vs. Interest: Mo

$600.00
Amount of mortgage $ 100,000 $500.00
Down payment $ 20,000 $400.00
Annual interest rate 6.00%

Payment
$300.00
Term of mortgage (years) 30
Monthly payment $477.25 $200.00
$100.00
Total principal paid $ 100,000 $0.00
Total interest paid $ 71,811 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Grand total paid $ 171,811
Year

Biweekly payment $ 238.63

Number of payments 638.90
New term of mortgage (years) 24.51
Principal vs. Interest: Bi-w
New term of mortgage (months) 294.07 $300.00
Total principal paid $ 100,000.00 $250.00
Total interest paid $ 52,458.88
$200.00
Grand total paid $ 152,458.88
Payment

$150.00
Savings with biweekly payment $ 19,352.61 $100.00
Time savings in years $50.00
with biweekly payment 5.49 $-
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Year
s the differences between a monthly mortgage payment and a bi-
white box, and your results will show up in the remaining boxes. For
wo payment methods, see the graphs at the right.

Principal vs. Interest: Monthly Payment

Year
1 2 3 4 5
Principal
$395.51 $390.32 $384.81 $378.96 $372.75
Interest
$81.75 $86.93 $92.44 $98.29 $104.50

6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30

Year

1 2 3 4 5
$ 180.44 $ 176.86 $ 173.05 $ 169.01 $ 164.73
$ 58.19 $ 61.77 $ 65.58 $ 69.61 $ 73.90
Principal vs. Interest: Bi-weekly Payment

Principal
Interest

6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Year
 6 7 8 9 10 11 12 13 14
$366.16 $359.16 $351.73 $343.84 $335.46 $326.57 $317.13 $307.11 $296.47
$111.09 $118.09 $125.53 $133.41 $141.79 $150.68 $160.12 $170.15 $180.79

6 7 8 9 10 11 12 13 14
$ 160.18 $ 155.35 $ 150.22 $ 144.77 $ 139.00 $ 132.86 $ 126.35 $ 119.43 $ 112.09
$ 78.45 $ 83.28 $ 88.41 $ 93.85 $ 99.63 $ 105.77 $ 112.28 $ 119.19 $ 126.53
 15 16 17 18 19 20 21 22 23
$285.17 $273.17 $260.44 $246.92 $232.56 $217.33 $201.15 $183.97 $165.73
$192.09 $204.08 $216.82 $230.34 $244.69 $259.93 $276.11 $293.28 $311.52

15 16 17 18 19 20 21 22 23
$ 104.30 $ 96.03 $ 87.25 $ 77.92 $ 68.03 $ 57.52 $ 46.37 $ 34.53 $ 21.96
$ 134.33 $ 142.60 $ 151.38 $ 160.70 $ 170.60 $ 181.10 $ 192.26 $ 204.10 $ 216.67
 24 25 26 27 28 29 30
$146.37 $125.82 $103.99 $80.83 $56.23 $30.11 $2.39
$330.88 $351.44 $373.26 $396.43 $421.03 $447.14 $474.87

24
$ 8.62
$ 230.01