BiWeekly Payment Calculator is a prepay mortgage calculator designed to figure the savings by prepaying your mortgage. This is a cool mortgage calculator to help you save money.
Want to figure how much you can save if you make biweekly payments? Use this prepay mortgage calculator to estimate your savings in months, years and interest.
By paying your mortgage biweekly, you will pay off your loan quicker and save a substantial amount of interest. If you want to see how much you would save, just plug in the numbers and this mortgage calculator will show you.
How is this possible? When you pay 1/2 of your mortgage payment every two weeks (biweekly), you will have essentially made 13 monthly payments in a year instead of 12. This is an almost painless way to prepay your mortgage. In a sense you could call this a prepayment mortgage calculator.