If you choose a bi-weekly mortgage payment system you are, in essence, choosing to add a 13th monthly payment to your annual number of monthly mortgage payments, and splitting it up between 26 bi-weekly mortgage payments. You will pay a little more per month with the bi-weekly payment system, but the total interests paid on the loan will be the lowest.
By adding a 13th annual monthly mortgage payment to your annual number of monthly mortgage payments and spreading that extra monthly mortgage payment into bi-weekly mortgage payments...
This combined monthly mortgage calculator and bi-weekly mortgage calculator gives you an estimate of what your monthly mortgage payments or bi-weekly mortgage payments could be when you contract a loan.
This is only an estimate of your possible monthly mortgage payments or bi-weekly mortgage payments. The actual lending institution determines your exact monthy mortgage payments or bi-weekly mortgage payments.
Please note that this monthly mortgage calculator and bi-weekly mortgage calculator uses javascript to do its monthly mortgage payments or bi-weekly mortgage payments calculations, your actual monthly mortgage payments or bi-weekly mortgage payments might be slightly different than the results shown here.
