Bi-Weekly Calculator Mortgage calculator with a Monthly, Accelerated Monthly, Semi-monthly, Bi-weekly, Accelerated Bi-weekly, Weekly and Accelerated Weekly Annuity. Bi-Weekly Calculator $Select the currency. Mortgage AmountEnter the amount of the loan. This is the amount from which installments will be calculated and amortization table will be made. Interest rateEnter the annual interest rate for which you have agreed with the bank. Amortization PeriodRepayment period in Years or Months. Mortgage start dateEnter the date when the loan is realized. $ £ ₱ ¥ R € Yr Mo Create an amortization table for Monthly Yes No Accelerated Monthly Yes No Semi-monthly Yes No Bi-weekly Yes No Accelerated Bi-weekly Yes No Weekly Yes No Accelerated Weekly Yes No Click on this button will do the report. Mortgage Calculator MonthlyThe normal monthly annuity is calculated using the simple method for the calculation of interest. It is paid once a month or twelve times a year. Mortgage Calculator Accelerated MonthlyWith accelerated monthly annuity payment is calculated so as to add to the monthly annuity of one-twelfth (1/12). In this way you can achieve that with the payment of twelve annuities pay 13 normal annuities. We pay monthly or 12 times per year. Mortgage Calculator Semi-monthlyThe amount of the annuity is one-half of the monthly annuity. Since you pay twice monthly pay less interest, but the savings in this mode is small. We pay to the 1st and 15th of the month or 2 and 16 … or 14 and 28. Mortgage Calculator Bi-weeklyThe amount of the annuity at Bi-weekly mode calculated by dividing the monthly installment multiplied by 12, divide by 52 and multiply by 2. In the year are almost exactly 52 weeks, so this is a Bi-weekly annuity. We pay every second Monday, or every second Tuesday … or every second Friday. Mortgage Calculator Accelerated Bi-weeklyIn the Accelerated Bi-weekly mode to calculate an annuity equal than semi-monthly (monthly installment is divided by two), but we pay every other week, about 26 times a year, which means that in one year we pay more than thirteen monthly annuities. Mortgage Calculator WeeklyIn the weekly mode the return of the loan installment is calculated so, that the monthly installment multiplied by 12 and divided by 52. We pay every Monday or every Tuesday … or every Friday. Mortgage Calculator Accelerated WeeklyWith accelerated weekly repayment loan installment is calculated by dividing the monthly installment 4. We pay every Monday or every Tuesday … or every Friday. Although mortgages enable many people to have a nice home, the cost of the object can be significantly increased when paid off by installments. Insurance, taxes, HOA fees, extra payments and interest can add tens of thousands of dollars to the total amount that you owe. Many people that think about buying a home do not take all of these into consideration and are up for an unpleasant surprise when the bill for the first monthly payment arrives. This is why using a mortgage calculator can be very useful. It presents the real situation and calculates the whole amount of expenses making your amortization table as clear as ever. PMI or private mortgage insurance is one of the expenses that most mortgage users forget to take into account, but this does not mean that they can avoid it. On the contrary, most mortgage users pay it regularly. The monthly amount of PMI varies a lot depending on the price of the object and the provider of finances, however, it can be calculated with the help of mortgage calculator with PMI. This is why future homeowners should look into different mortgage providers opting for the one with the lowest percentage of private mortgage insurance. The private mortgage insurance can be paid monthly, weekly, bi-weekly or covered in one single amount, depending on the buyer’s wishes and abilities. The principal role of PMI is protecting the lender, especially in the event of the mortgage loan not being (fully) repaid, so borrowers do not actually benefit from it and need another type of insurance to take care of themselves in case something unexpected happens. This is why many people would like to avoid the unnecessary expense. PMI can be avoided, but this is often not an option for the homebuyer as his down payment needs to exceed the 20 percent of the whole price of the newly-bought home. With the average price of homes being around 250,000 dollars, such an extensive down payment is often too much and avoiding PMI is not possible. PMI is therefore obligatory and the mortgage is legally required to pay it until the principal, the amount of money that was borrowed is reduced to 80 percent. If such a colossal down payment is out of the question, there is another way to dodge private insurance. A buyer can use a second mortgage, the so-called piggyback mortgage, taking another loan that will cover the 20 percent in question. Mortgage calculator with some additional functions can help with calculations concerning the piggyback mortgage as well. Paying off a mortgage loan can present some problems, but with different online tools, the process can become much easier.