As a courtesy to our clients and visitors, we have collected a number of useful Financial Tools that can be used to gain insight on various monetary issues people face on a day to day basis. Although most of these tools are designed for singular use, some of them can help to provide an ongoing picture of your financial situation when used on a weekly or monthly basis.
This calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. In effect, you will be making one extra mortgage payment per year--without hardly noticing the additional cash outflow. But, as your about to discover, you will certainly notice the increased cash flow that will occur when you pay your mortgage off way ahead of schedule!
Enter the principal balance of your mortgage: | |
Enter your monthly mortgage payment (P&I): | |
Enter your current interest rate (without % sign): | |
Interest you will pay under your current monthly payment plan: | |
Interest you will pay using a bi-weekly mortgage payment plan: | |
Bi-weekly Mortgage Interest Savings: | |
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