Classicmortgagellc.com is a full service residential mortgage lender

CLASSIC MORTGAGE, LLC

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Bi-Weekly Mortgage Calculator

This calculates how much you will pay over the life of the loan when paying bi-weekly.

Calculations

Principal Loan Balance:	$
Annual Interest Rate:	$
Number of Years:

Your Results

(Principal Remaining after each year if paying).

Year	Monthly Payment	Bi-Weekly Payment
1	119,046.23	118,144.71
2	118,010.73	116,130.44
3	116,886.50	113,943.56
4	115,665.93	111,569.28
5	114,340.77	108,991.55
6	112,902.50	106,192.92
7	111,340.40	103,154.48
8	109,644.18	99,855.66
9	107,803.0	96,274.16
10	105,804.40	92,385.76
11	103,633.79	88,164.14
12	101,277.57	83,580.77
13	98,719.44	78,604.64
14	95,942.90	73,202.10
15	92,926.75	67,336.60
16	89,653.20	60,968.47
17	86,098.75	54,054.65
18	82,239.92	46,548.36
19	78,050.40	38,398.84
20	73,501.89	29,550.98
21	68,563.59	19,944.92
22	63,202.13	9,515.70
23	57,381.23	0.00
24	51,061.53	0.00
25	44,200.27	0.00
26	36,751.70	0.00
27	28,663.52	0.00
28	19,882.93	0.00
29	10,349.92	0.00
30	8.42	0.00

Final Summary

Mortgage Payment if paying
Monthly:	$	901.52
Bi-Weekly:	$	450.76

Years Before payoff of loan if using
Monthly:		30 yrs
Bi-Weekly:		22 yrs

Explanation

Usually a Bi-Weekly payment will result in a shortened loan period and save quite a bit of interest.

The accuracy and use of this calculator is not guaranteed.