FORTNIGHTLY (BI-WEEKLY) MORTGAGE CALCULATOR

INSTRUCTIONS

This calculator is designed to show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making one mortgage payment every month.

This results in an extra mortgage payment every year with minimal effect on your budget. You will save a large amount of interest and pay off your mortgage years earlier.

ENTER DETAILS HERE
Enter the balance owing on your mortgage:
Enter your monthly mortgage payment:
Enter your current mortgage interest rate:
Interest you will pay under your current monthly mortgage:
Interest you will pay if you switch to a fortnightly (bi-weekly) mortgage:
Fortnightly (bi-weekly) mortgage interest savings: