An Example of a Bi-weekly Mortgage Calculator to Help you Understand

This extra yearly payments pays big dividends such as:

• pays off your mortgage approximately 7 years sooner
• lowers the total amount of interest you pay
• cancel PMI sooner
• helps build equity faster

By using a bi weekly mortgage calculator and program; however you can reduce both the term of the loan and the amount of money that you pay in interest.

Consider this :
With this same loan for $100,000 at 7% interest on a 30 year mortgage using a bi-weekly mortgage calculator and program you can save almost $35,500 in interest over the course of your loan and shave a whopping 78 payments from your mortgage.

That’s a lot of money and time that you can completely eliminate.

There is only one problem with divvying up your monthly mortgage payment and sending it in halves every two weeks. It could create a problem with the account processing department at your mortgage company.
They expect to receive a full payment once a month instead of half payments every two weeks.
That’s no reason to give up on the idea; however.
The huge cost savings is well worth it!

A bi-weekly mortgage concept has become so popular that many mortgage companies have voluntarily instituted programs so that homebuyers can take advantage of this program without fear that their mortgage payment will either be mishandled or wrongly applied.

Biweekly mortgage programs have also proven to be beneficial for those individuals who would like to participate in such a concept but who generally lack the discipline to routinely send in a half payment every two weeks.

While mortgage companies do tend to charge a fee for the operation of such a program, the cost is relatively minor in comparison to the thousands of dollars you are likely to save in interest payments over the life of your mortgage.

Even if your mortgage company doesn’t offer a biweekly mortgage program you may still be able to sign up for a program that allows you to make biweekly payments and not worry about slacking off after awhile.

This is important because studies have shown that only about 3% of consumers will actually take the initiative on their own to use a biweekly mortgage payment calculator and send in biweekly mortgage payments if not prompted through a program.

Of that 3% only about 1% will continue to do so over the course of the loan!

To make sure you stay on track and continue making those payments that can pay off so handsomely in the end, you might consider enrolling in a 3rd party service that works with your mortgage company to restructure your payments so that you can take advantage of the benefits of a bi-weekly mortgage calculator and program!

Go to this bi-weekly mortgage calculator and see just how unbelievable the savings can be!

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   A Bi Weekly Mortgage Calculator shows you How to Save Thousands!A Biweekly Mortgage Calculator will help you find out How to Save Thousands of Dollars and Years on your Mortgage!