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I have to point out something. If you change the payment frequency in the above table to something other than monthly, the program uses the same amortization of 25 years and lets the calculated payment amount float accordingly. The best way to ensure that if you pay weekly or bi-weekly is to use the accelerated payments method. This means that you take the monthly payment, divide by 4 and that becomes your weekly payment. This way you make 52 weekly payments per year, which is actually 13 monthly payments and not only will you save many thousands in interest but you will pay off your mortgage about 6 years sooner than you would normally do so with monthly payments and a 25 year amortization.
Please note that the Amortization Calculator is provided for informational
purposes. Although the amortization table produced is extremely precise
the figures provided are estimates only. You should consult
your lender for precise amortization tables for your particular mortgage. Also
found here is information on mortgages, mortgage calculator, mortgage
rates, real estate property listings, remax realtors, mortgage calculators,
real estate listings, house for sale
Excellent, I am ready to begin my home search
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