Enter the principal balance of your mortgage:
(call your mortgage lender and ask for the current payoff
amount) |
|
| Enter the amount of your monthly mortgage payment: |
|
| Enter the your mortgage's current interest
rate: |
|
|
|
| Interest you will pay under your current monthly payment
plan: |
|
| Interest you will pay if you switch to a bi-weekly
payment plan: |
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| Bi-weekly Mortgage Interest Savings: |
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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 you're
about to discover, you will certainly notice the "increased"
cash flow that will occur when you pay your mortgage
off way ahead of schedule!
Note: When entering numbers into the data fields
only use numbers and applicable decimal points. Entering
commas, dollar signs, or any other non-numeric characters
will cause an error. Also please note that this calculator
has been tested to work with Internet Explorer 5.5 and
Netscape Navigator 4.6 web browsers. However, both must
have the JavaScript option turned on.
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