Texas First Title Company L.L.C.

Bi-Weekly Mortgage Calculation

Calculates how much you will pay over the life of the loan when making bi-weekly payments.

Principal Loan Balance:

Annual Interest Rate:

Number of Years:

Principal Remaining after each year if paying:
Year	Monthly	Bi-Weekly
01	$148,746.95	$147,646.31
02	$147,389.91	$145,097.26
03	$145,920.22	$142,336.64
04	$144,328.56	$139,346.89
05	$142,604.79	$136,109.00
06	$140,737.94	$132,602.36
07	$138,716.15	$128,804.67
08	$136,526.55	$124,691.78
09	$134,155.21	$120,237.51
10	$131,587.06	$115,413.55
11	$128,805.74	$110,189.20
12	$125,793.59	$104,531.23
13	$122,531.42	$98,403.65
14	$118,998.49	$91,767.48
15	$115,172.34	$84,580.52
16	$111,028.61	$76,797.04
17	$106,540.96	$68,367.54
18	$101,680.84	$59,238.39
19	$96,417.33	$49,351.53
20	$90,716.94	$38,644.07
21	$84,543.43	$27,047.89
22	$77,857.53	$14,489.23
23	$70,616.69	$888.21
24	$62,774.87	$0.00
25	$54,282.18	$0.00
26	$45,084.60	$0.00
27	$35,123.63	$0.00
28	$24,335.90	$0.00
29	$12,652.80	$0.00
30	$1,093.36	$0.00

Summary
Mortgage payment when paying:
Monthly		$1,100.65
Bi-Weekly		$507.99

Number of years for mortgage payoff when paying:
Monthly		30
Bi-Weekly		23

Interest paid when paying:
Monthly		$246,232.87
Bi-Weekly		$176,588.87

Bi-Weekly Interest Savings:		$69,644.00

Explanation
Many find the bi-weekly Mortgage attractive because this mortgage alternative reduces the number of payment years and reduces total interest paid on the loan.

The results of this calculation are not binding and in no way constitute an offer to extend credit. Calculator Disclaimer