Biweekly Mortgage Calculator With Extra Payments Amortization Calculator

Managing mortgage payments can be a daunting task, especially when you want to explore the impact of making extra payments. Our Biweekly Mortgage Calculator With Extra Payments and Amortization Schedule provides a convenient tool to help you understand how extra payments can affect your mortgage payoff timeline.

Formula: The calculator uses the formula for calculating a loan payment:



  • P = Principal loan amount
  • r = Monthly interest rate
  • n = Total number of payments

How to Use:

  1. Enter your loan amount, annual interest rate, and loan term in years into the respective input fields.
  2. Optionally, input any extra payments you plan to make.
  3. Click the “Calculate” button to see your bi-weekly payment amount and amortization schedule.

Example: Let’s say you have a loan amount of $200,000, an annual interest rate of 4%, and a loan term of 30 years. If you decide to make an extra payment of $100 bi-weekly, the calculator will show you how this impacts your payment schedule and total interest paid.


  1. How does making extra payments affect my mortgage payoff?
    • Making extra payments reduces your principal balance faster, which can shorten your loan term and save you money on interest.
  2. Can I make extra payments towards my mortgage?
    • Most mortgage lenders allow borrowers to make extra payments, but it’s essential to check your loan agreement for any prepayment penalties.
  3. Is it better to make extra payments towards principal or invest the money elsewhere?
    • It depends on your financial goals and the interest rates involved. Making extra payments can provide a guaranteed return by reducing your interest expense, but investing may offer higher potential returns.
  4. Will making bi-weekly payments instead of monthly payments save me money?
    • Bi-weekly payments result in 26 half-payments per year, which is equivalent to 13 full payments. This extra payment each year can help you pay off your loan faster and save on interest.
  5. How accurate is the calculator’s amortization schedule?
    • The calculator provides an estimate based on the information you input. Actual payment amounts and loan balances may vary due to factors like escrow payments and interest rate changes.

Conclusion: Our Biweekly Mortgage Calculator With Extra Payments and Amortization Schedule offers valuable insights into the impact of making extra payments on your mortgage. By using this tool, you can make informed decisions about your mortgage strategy and work towards achieving financial freedom faster.

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