Reviewed by: David Chen, CFA
David Chen is a Certified Financial Analyst with over 10 years of experience in mortgage analytics and accelerated payoff strategies.
David Chen is a Certified Financial Analyst with over 10 years of experience in mortgage analytics and accelerated payoff strategies.
Use this free 20 year bi weekly mortgage calculator with extra payments to see how much interest and time you’ll save by paying half-monthly every two weeks plus additional principal.
20 Year Bi Weekly Mortgage Calculator with Extra Payments
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Bi Weekly Extra Payment Formula
Bi Weekly P&I: M = P × [ r(1+r)^n ] / [ (1+r)^n – 1 ] ÷ 26
Total Interest Saved: Original interest – interest with extra
Years Saved: Original 20 yr – new payoff time
Formula Sources: