Bi-weekly Mortgage Calculator: This calculator shows the differences between a weekly mortgage payment. Fill in the information in the white box, and your results a visual representation of the differences between the two payment methods, see
Principal vs. Interest: Mon
Amount of mortgage $ Down payment $ Annual interest rate Term of mortgage (years) Monthly payment Total principal paid $ Total interest paid $ Grand total paid $ Biweekly payment Number of payments New term of mortgage (years) New term of mortgage (months) Total principal paid Total interest paid Grand total paid Savings with biweekly payment Time savings in years with biweekly payment $ 150,000 20,000 8.00% 30 $947.58 150,000 191,128 341,128 473.79 596.86 22.89 274.72 150,000.00 132,784.70 282,784.70
$1,000.00 $900.00 $800.00 $700.00 $600.00 $500.00 $400.00 $300.00 $200.00 $100.00 $0.00
Payment
Principal vs. Interest: Bi
$500.00 $450.00 $400.00 $350.00 $300.00 $250.00 $200.00 $150.00 $100.00 $50.00 $-
$
58,342.94
7.11
Payment
$ $ $
s the differences between a monthly mortgage payment and a biwhite box, and your results will show up in the remaining boxes. For wo payment methods, see the graphs at the right.
Principal vs. Interest: Monthly Payment
Year 1 Principal $860.05 Interest $87.52
2 $852.26 $95.31
3 $843.83 $103.75
4 $834.69 $112.88
5 $824.80 $122.78
Year
rincipal vs. Interest: Bi-weekly Payment
$ $
1 391.63 82.16
2 $ 384.82 $ 88.97
$ $
3 377.45 96.34
4 $ 369.46 $ 104.33
5 $ 360.81 $ 112.98
Principal Interest
Year
6 $814.08 $133.49
7 $802.48 $145.10
8 $789.91 $157.66
9 $776.30 $171.27
10 $761.56 $186.01
11 $745.60 $201.98
12 $728.31 $219.27
13 $709.59 $237.99
14 $689.31 $258.27
6 $ 351.45 $ 122.34
7 $ 341.31 $ 132.48
8 $ 330.33 $ 143.46
9 $ 318.43 $ 155.35
10 $ 305.56 $ 168.23
11 $ 291.61 $ 182.18
12 $ 276.51 $ 197.28
13 $ 260.15 $ 213.64
14 $ 242.44 $ 231.35
15 $667.35 $280.23
16 $643.57 $304.01
17 $617.81 $329.77
18 $589.92 $357.66
19 $559.71 $387.87
20 $526.99 $420.59
21 $491.56 $456.02
22 $453.18 $494.40
23 $411.62 $535.95
15 $ 223.26 $ 250.53
16 $ 202.49 $ 271.30
17 $ 180.00 $ 293.79
18 $ 155.64 $ 318.15
19 $ 129.27 $ 344.52
20 $ 100.70 $ 373.09
21 $ 69.77 $ 404.02
22 $ 36.27 $ 437.51
24 $366.61 $580.96
25 $317.87 $629.71
26 $265.08 $682.50
27 $207.91 $739.67
28 $145.99 $801.58
29 $78.94 $868.64
30 $6.32 $941.26
Dear Friend, Thanks for downloading this Excel personal finance spreadsheet. It gives me a real thrill to know that I've made something that people find useful and that benefits them.
Since you've downloaded and actually opened this spreadsheet, you're probably concerned about paying off your mortgage as quickly as possible. The Biweekly Payment system is great, but there's another technique that blows biweekly payments out of the water. It's called Mortgage Cycling . Mortage Cycling Revealed is an insider guide to paying off your mortgage in 10 years or less, while building much more equity than with a biweekly mortgage payment. To find out more about the secrets of Mortgage Cycling, please click on the picture below. Sincerely,
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