Biweekly Mortgage Calculator 1.0

Biweekly Mortgage Calculator 1.0 Screenshot Got a mortgage? Making monthly payments? Too bad.

Developer:   An Uncommon Way to Wealth
      software by An Uncommon Way to Wealth →
Price:  0.00
License:   Freeware
File size:   0K
Language:   
OS:   Windows Vista (?)
Rating:   0 /5 (0 votes)

Got a mortgage? Making monthly payments? Too bad. If you were making biweekly mortgage payments, you could save thousands of dollars and several years with the help of Biweekly Mortgage Calculator. Here’s how it works:

If you have an 8% 30-year mortgage of $150,000, and you’ve made a down payment of $20,000, the monthly payment is $947.58. To apply the biweekly mortgage technique, simply divide the monthly payment amount by two and pay that amount every two weeks. In effect, you’re making an extra payment each year. Seems insignificant, but the effects of biweekly mortgage payments are significant.

With monthly payments, your total mortage payments are $341,128. This amount includes total interest of $191,128. In contrast, with biweekly mortgage payments you’ll pay total payments of $282,784, which includes total interest of $132,784. You’ll also pay off your loan in just under 23 years.

So, with a biweekly payment schedule, you’ve saved a total of $58,343 and paid off your loan 7.11 years early.

Requirements
  • Microsoft Excel

    tags biweekly mortgage  mortgage payments  total interest  off your  your loan  includes total  monthly payment  the monthly  monthly payments  payments are  

    Biweekly Mortgage Calculator 1.0 screenshot


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     Download Biweekly Mortgage Calculator 1.0


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