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
The Power of Tax-Deferred Growth
Why are 401(k) plans, annuities, and IRAs so popular?
Asset Allocation
Consider how your assets are allocated and if that allocation is consistent with your time frame and risk tolerance.
To Buy or Not to Buy
The decision whether to buy or rent a home may have long-term implications.