This Financial Calculator requires a Browser with Java applet Support. If you are seeing this message you will need to download SUN's Java Plug-in. This can be done simply, and automatically, by clicking the link below:

Get the Java Plug-in!

This calculator shows you possible savings by using an accelerated bi-weekly mortgage payment. Bi-weekly payments accelerate your mortgage payoff by paying 1/2 of your normal monthly payment every two weeks. By the end of each year, you will have paid the equivalent of 13 monthly payments instead of 12. This simple technique can shave years off your mortgage and save you thousands of dollars in interest. Click on the "View Report" button to see your savings!

Definitions

Accelerated weekly and bi-weekly payments
Accelerated weekly and accelerated bi-weekly payment options are calculated by taking a monthly payment schedule and assuming there are only four weeks in a month. We calculate an accelerated bi-weekly payment, for example, by taking your normal monthly payment and dividing it by two. Since you would pay 26 bi-weekly payments, by the end of a year you would have paid the equivalent of one extra monthly payment. This additional amount accelerates your loan payoff by going directly against your loan's principal. The effect can save you thousands of dollars in interest and take years off of your mortgage.

The accelerated weekly payment is calculated by dividing your monthly payment by four. You would then make 52 weekly payments. Just like the accelerated bi-weekly payments, you are in effect paying an additional monthly payment each year.

Mortgage amount
The total dollar amount for this mortgage.

Interest rate
The interest rate on this mortgage.

Mortgage term
The number of years over which you would repay this loan if you made your normal monthly payment. The most common terms for mortgages are 15 years and 30 years.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

SENIORS RESIDENTIAL SPECIALIST

SENIORS REAL ESTATE SPECIALIST


REMAX UNIVERSAL REAL ESTATE 218-14 Northern Blvd. Bayside, NY 11361
Phone: Cell: Fax:

Why Get An Inspection? | Title Information | ResultsforYou | 10 REASONS TO CHOOSE ME | CONTACT US | Setting the Sales Price | Tax Closing Costs | Getting the Highest Price | SELLING YOUR OWN HOME | FREE HOME VALUATION | FIND A HOME! | Your FICO Score | How Escrow Works | WHY SELLERS CHOOSE PAM | HOME INSPECTION SERVICES | NEIGHBORHOOD PROFILES | MARKETING PLAN | RECENT HOME SALES | FREE IN HOME CONSULTATIONS | MOVING COACH LINK | WHY A HOME INSPECTION? | SCHOOL STATISTICS | OPEN HOUSE | SEARCH REMAX PROPERTIES | FREE ACCURATE APPRAISAL | PAM'S EXCLUSIVE SERVICES | QUEENS MARKET UPDATE | BUYER SERVICES | SELLER GUARANTEE | MEET PAM DICKMAN | WHY REMAX? | REMAX STATISTICS | WHY HIRE A REALTOR? | CONTACT PAM TODAY! | MOVING SERVICES | WHY REMAX VIDEO | PAM'S NEWS | GET ENERGY SMART | Neighborhoods-Fresh Meadows | MORTGAGE/REAL ESTATE NEWS | ACTIVITIES I DO TO CLOSE TRANSACTIONS | CODE OF ETHICS | First Time Buyers | Inspection Tips | Home Buyer Checklist | LOOKING TO BUY? | TELL A FRIEND | News | Press Release | Real Estate Glossary | LOOKING TO SELL? | PAM'S EXCLUSIVE HOMES | HOME | Applying for a Loan | Mortgage Saving Tips | Your Downpayment | Document Your Assets | Your Buying Power | Writing the Offer | Mortgage Shopping | Locking in Rates | Neighborhood Prices | Staging Checklist | Creative Financing | Bi-weekly Pmt Calc | Fixed Rate Mtg Calc | 15 vs 30 Year Mtg Calc | ARM vs Fixed Rate Calc | Mortgage Qualifier Calc | Rent vs Buy Calc | Mortgage Calculators | Your Dream Home | 9 Steps to Ownership | How to Sell Your Home | Staging Your Home | Reasons homes don't sell | Be Accessible! | Buying Foreclosures/REO's | Types of Listing Contracts | The Listing Contract | Listing Commissions | Need a Bridge Loan? | Should you paint? | Plumbing and Fixtures | Role of the MLS | Ethics in Real Estate | Improvements That Pay | Selling One, Buying Another | Fixer Uppers | Win $1000

Copyright © 2008 REMAX UNIVERSAL REAL ESTATE
Portions Copyright © 2008 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.