Buying a home? Use our Bi-Weekly Mortgage Calculator to determine your bi-weekly loan payment based on your loan amount, length and mortgage rate. With a bi-weekly mortgage you make a payment every two weeks instead of monthly. This means you make twenty six payments a year which is the equivalent of thirteen monthly payments. Making that extra payment enables you to pay off your loan sooner because you reduce your principal balance faster as compared to a mortgage with a monthly payment.

Source by freeandclearmortgage