Banister Mortgage
mortgage refinance purchase

Mar 16, 2010
 
 
Contact Info:
Karma Banister
Phone: 830-230-5177
Fax: 830-230-5188
     
     
 
Bi-Weekly Mortgage Calculator
 
 
This calculates how much you will pay over the life of the loan when paying bi-weekly.
  
     
 
Calculations    
 
     Principal Loan Balance: $
     Annual Interest Rate: $
     Number of Years:
 
 
     
 
Your Results
(Principal Remaining after each year if paying).
Year Monthly Payment Bi-Weekly Payment
1   119,046.23   118,144.71
2   118,010.73   116,130.44
3   116,886.50   113,943.56
4   115,665.93   111,569.28
5   114,340.77   108,991.55
6   112,902.50   106,192.92
7   111,340.40   103,154.48
8   109,644.18   99,855.66
9   107,803.0   96,274.16
10   105,804.40   92,385.76
11   103,633.79   88,164.14
12   101,277.57   83,580.77
13   98,719.44   78,604.64
14   95,942.90   73,202.10
15   92,926.75   67,336.60
16   89,653.20   60,968.47
17   86,098.75   54,054.65
18   82,239.92   46,548.36
19   78,050.40   38,398.84
20   73,501.89   29,550.98
21   68,563.59   19,944.92
22   63,202.13   9,515.70
23   57,381.23   0.00
24   51,061.53   0.00
25   44,200.27   0.00
26   36,751.70   0.00
27   28,663.52   0.00
28   19,882.93   0.00
29   10,349.92   0.00
30   8.42   0.00
 
     
 
Final Summary    
 
Mortgage Payment if paying    
     Monthly: $ 901.52
     Bi-Weekly: $ 450.76
 
Years Before payoff of loan if using    
     Monthly:   30 yrs
     Bi-Weekly:   22 yrs
 
     
 
Explanation

Usually a Bi-Weekly payment will result in a shortened loan period and save quite a bit of interest.

The accuracy and use of this calculator is not guaranteed.
 
     

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Banister Mortgage
142 B Walnut Grove Road    Boerne, TX 78006

Phone: 830-230-5177

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