Math Calculator & Tools

Biweekly mortgage loan payment calculator

Biweekly Loan Calculator

Bi weekly calculator is an online financial calculator for computing your interest amount which you will be paying twice a month. Bi weekly payment is also an option available in the market to pay off your any kind of loans. Generally in all loans a certain amount will be paid as interest monthly. Whereas in this kind of loan the interest is paid as two halves for once in every two weeks. The great benefit of this biweekly loan is instead of paying 12 monthly payments you will be paying 26 half payments every year which is equivalent to 13 full payments. Thereby you can finish your loans well ahead of time. The loan principal amount, interest rate and loan maturity period are the key terms which are used to figure out the biweekly payment in this finance calculator.

Biweekly payment though offers an advantage of clearing off your loan earlier it must be wisely chosen so that the borrower is financially sound to pay loans twice a week.