Note: This is not a biweekly mortgage calculator. It assumes you pay your mortgage once per month and that you will add the additional principal calculated to your current monthly payment.
If you make biweekly mortgage payments, multiply the calculated additional principal by 12 and divide by 26 to compute how much to add to your current payment. In this case, your actual interest savings will be greater than shown here provided that your servicer applies the additional principal when it is received.
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