Calculate the payment amount for a biweekly (every 2 weeks) mortgage loan. BiWeekly mortgages may work well if you get paid every 2 weeks (i.e. every other Friday) and want to make a payment on your home each payday instead of just once a month. Note that this is a true biweekly calculation amortized over the length entered. It is not necessarily the same as paying half a monthly mortgage payment every 2 weeks, which would pay the loan sooner than its original length. Enter your sale price, any down payment you're making, the interest rate and the length of the loan. This calculator will then show you the biweekly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. You can also enter the points and other closing costs and roll those into your loan. You can even enter an additional payment amount you intend to add to each biweekly payment to work down your principal and the calculator will show you the anticipated payoff time. You can display and/or print the amortization schedule for your loan.
