Biweekly Mortgage Loan Payment Calculator
This Biweekly Mortgage Loan Payment Calculator estimates your mortgage payments if you switch from monthly to biweekly payments, helping you save on interest and pay off your loan faster.
Biweekly Mortgage Payment Calculator
Biweekly Mortgage Loan Payment Formula
$$\text{Biweekly Payment} = \frac{P \times r_b}{1 – (1 + r_b)^{-n}}$$
Where:
- $$P$$ = Principal loan amount
- $$r_b$$ = Biweekly interest rate (annual rate divided by 26)
- $$n$$ = Total number of biweekly payments
Switching to biweekly mortgage payments can help reduce the total interest paid and shorten the loan term. This calculator provides an estimate of your biweekly payment amount based on the loan balance, interest rate, and remaining term.