Bi Weekly Mortgage Calculator

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All Western Mortgage

• biweekly mortgage calculator

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All you need to know about Bi-weekly Mortgage
Payments

• The manner in which you make your mortgage
  payments can save you a lot of money over the
  term of the loan. By making biweekly mortgage
  payments on your home loan, you can save tens of
  thousands of dollars along with shedding 7-8
  years off of your loan term. The reduction in the
  loan term also leads to a saving of 23-30 of the
  total interest cost.

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In a bi-weekly mortgage payment plan, one
additional mortgage payment is made each year. In
simpler terms, you will pay 13 loan installments
in a year instead of 12. This extra payment is
used to pay off the principal part of the loan
and as the principal amount decreases quicker, so
does the interest charged on it.
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• For instance A mortgage of 100,000 for a term
  of 30 years at a rate of 6.5 means that the
  total interest amount on it would be 127,544.
  When you add the principal amount of 100,000 to
  it, the grand total comes out to be 227,544.
  This is the amount that youll pay to clear the
  loan if you make monthly mortgage payments.
  However, with bi-weekly payments, your interest
  amount gets reduced to 97,215. This means a
  total savings of 30,329.

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However, some lenders hold off the biweekly
payments until they receive both the payments of
the month. If this is the case with your lender,
then it will not help your cause.
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In order to avail the full benefits of the
biweekly payments, you must have a lender that
credits the half of the payment as soon as he
receives it from you.
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You can use All Western Mortgages biweekly
mortgage calculator to accurately figure out how
much you will save by making biweekly payments on
your mortgage loan.
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Our bi weekly mortgage calculator will provide
you a clear picture of the benefits you will
avail if you pay off your loan early. So, use it
now and increase your pace of equity building.
Visit http//www.awmlending.com/calculators-biweek
ly.php.
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All Western Mortgage

• Address8345 W Sunset Rd
• Suite 380 Las Vegas, NV  89113
• Phone [phone]
• Corporate 702-369-0905
• Fax [phone]
• E-mail info_at_awmlending.com
• Website
• http//www.awmlending.com/