Retail Employees Credit Union - St. Louis Park/West St. Paul, Minnesota

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Bi-Weekly Mortgage Calculator
This calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. In effect, you will be making one extra mortgage payment per year -- without hardly noticing the additional cash outflow. But, as you're about to discover, you will certainly notice the "increased" cash flow that will occur when you pay your mortgage off way ahead of schedule!
Enter the principal balance of your mortgage: (call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment:
Enter the your mortgage's current interest rate:

Results	Without	With
Years to pay off:
Interest savings:
Monthly payments eliminated:
Total payment savings:
Equity after 5 years:
Equity after 10 years:
Balance due after years:
Average monthly savings:
Average annual savings:
Cash available after years:*
*Based upon a 10% yield of the money saved over the life of the loan.