253,000
$
Year
2,500
$
1
2
3
6.25%
$1,290.71 $1,274.52
$1,257.29
30
$243.67
$259.86
$277.09
$1,534.38
Total principal paid
253,000
$
Total interest paid
299,377
$
Grand total paid
552,377
$
767.19
$
1
2
3
Number of payments
634.02
588.74
$
577.31
$
565.14
$
New term of mortgage (years)
24.32
178.45
$
189.88
$
202.05
$
New term of mortgage (months)
291.82
Total principal paid
253,000.00
$
Total interest paid
233,416.79
$
Grand total paid
486,416.79
$
Savings with biweekly payment
Time savings in years
with biweekly payment
5.68
65,960.02
$
Monthly payment
Biweekly payment
Amount of mortgage
Down payment
Annual interest rate
Term of mortgage (years)
Principal vs. Interest: Monthly Payment
$0.00
$500.00
$1,000.00
$1,500.00
$2,000.00
1
3
5
7
9
11
13
15
17
19
21
23
25
27
29
Year
PaymentPrincipal
Interest
Principal vs. Interest: Bi-weekly Payment
$-
$200.00
$400.00
$600.00
$800.00
$1,000.00
1
3
5
7
9
11
13
15
17
19
21
23
Year
PaymentPrincipal
Interest