Are you looking for a way to pay off your home mortgage loan faster, while saving money in interest. One way to pay your home mortgage loan off faster is by making bi-weekly payments. By making bi-weekly payment to you home loan, you are making a 1/2 payment every 2 weeks. For example, lets say you have a monthly mortgage payment of $500. Since you are making bi-weekly payments, you would make a $250 payment every 2 weeks. Since there are 52 weeks in a year, you would make 26 payments of $250. By making 26 payments of $250, you are actually making 1 full extra payment a year. Just by making that 1 extra payment you are saving money in interest charges and are cutting months off of the life of the home mortgage loan.

Based on your loan amount, interest rate, and loan term, this bi-weekly payment calculator will calculate your bi-weekly payment and total interest paid over the life of the loan.