Two out of three American households today are homeowners. For the vast majority of those households, home equity is the single largest source of wealth. Switching from monthly to biweekly (every two weeks) mortgage payments can help you build more wealth by paying off your home faster and saving money on interest. Use this calculator to see how much you could save.
Loan Details
Your Potential Savings
Payment Comparison
Monthly Payments
Bi-Weekly Payments
Balance Over Time
By switching to bi-weekly payments, you make 26 half-payments per year instead of 12 full monthly payments. This equals one extra monthly payment each year, helping you pay off your mortgage faster and save on interest.
This is a hypothetical interest rate used for illustrative purposes only. It is not representative of any specific mortgage rate. Speak with your real estate professional or mortgage company if you are uncertain about your Annual Interest Rate.
Related Content
Year-End Financial Moves to Maximize Your Momentum
Use these year-end financial strategies to help reduce taxes, protect assets, and move into the new year with momentum.
Could the Right Firm Culture Elevate You?
Joining the right team culture can help you grow and thrive.
What You Need to Know About Socially Responsible Investing
Grow wealth and do some good? It’s possible with a dedicated SRI strategy.