Additional Mortgage Payment Calculator

 

This calculator makes it easy for homebuyers to figure out how much quicker they will pay off their home if they make half of their regular monthly loan payment biweekly, creating an effective thirteenth monthhly payment each year. In addition, homeowners can specify minimum and maximum amounts they can add to these payments to see how much faster that will help them pay the loan off along with how much interest they will save.

Your Current Mortgage Info

Original mortgage loan amount:
Interest rate of your mortgage:
Term of your mortgage in months:
Current monthly principal & interest payment:
Number of monthly payments you have already paid:

Your Extra Payments

Minimum amount you can add to biweekly payments to pay off home faster:
Maximum amount you can add to biweekly payments to pay off home faster:

Your Current Mortgage Payments

Dollar amount of your mortgage:
Percentage rate of your mortgage:
Your current monthly payment:
Total Interest paid:
Paid off in:

Biweekly Payment Plan

Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:

Biweekly With An Extra $25 Payment

Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:

Biweekly With An Extra $50 Payment

Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:

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