MooneyOnMoney.com

Switching from monthly to biweekly (every two weeks) mortgage payments can help you pay off your home faster and save money on interest. Use this calculator to see how much you could save.

Loan Details

$
%
years

Your Potential Savings

Interest Savings
$0

Payment Comparison

Monthly Payments

Payment Amount$0
Total Interest Paid$0
Total Amount Repaid$0

Bi-Weekly Payments

Payment Amount$0
Total Interest Paid$0
Total Amount Repaid$0

Balance Over Time

By switching to bi-weekly payments, you make 26 half-payments per year instead of 12 full monthly payments. This equals one extra monthly payment each year, helping you pay off your mortgage faster and save on interest.

This is a hypothetical interest rate used for illustrative purposes only. It is not representative of any specific mortgage rate. Speak with your real estate professional or mortgage company if you are uncertain about your Annual Interest Rate.

 

Related Content

How to Bake a Pie-R-A

How to Bake a Pie-R-A

Roth IRAs are tax-advantaged differently from traditional IRAs. Do you know how?

Medicare vs. Medicaid

Medicare vs. Medicaid

The terms Medicare and Medicaid sound similar but are two very different things. Learn the differences in this informative article.

TIPS for Inflation

TIPS for Inflation

If you are concerned about inflation and expect short-term interest rates to increase, TIPS could be worth considering.

 

Have A Question About This Topic?







Thank you! Oops!

Mortgages in Retirement

Explore the benefits and drawbacks to paying off your mortgage prior to retirement with this article.

What Is a 1035 Exchange?

1035 exchanges provide a way to trade-in an annuity contract or life insurance policy without triggering a tax liability.

Risk Perspective

Is it possible to avoid loss? Not entirely, but you can attempt to manage risk.

View all articles

College Savings

See how much you may need to save now to cover future college costs for your child.

Debt-to-Income Ratio Calculator

Calculate your debt-to-income ratio to understand how lenders may view your financial health.

The Power of Interest - How Long Will it take My Money to Do

Use the Rule of 72 to estimate how long it takes your money to double at a given rate.

View all calculators

Stay Safe with a Business Owner's Policy

Learn the advantages of Business Owner's Policies with this highly educational and fun animated video.

The Cycle of Investing

Understanding the cycle of investing may help you avoid easy pitfalls.

RE: Retirement

How does your ideal retirement differ from reality, and what can we do to better align the two?

View all videos