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With a fortnightly (not biweekly, a common American misstatement, since biweekly ambiguously means both twice a week and every two weeks) mortgage, you pay 1/2 your monthly mortgage amount every two weeks. Since you are accelerating the repayment schedule by making two principal reductions ("payments" in layman's terms) per month instead of one, the interest is calculated on a shorter time, so you pay less total interest.

Mouse or tab from box to box to complete the form. Please enter all amounts without commas or dollar signs. While two digit accuracy is shown, your calculated savings are rounded to the nearest five dollars.

Purchase Price
Downpayment Amount
Loan Term years
Interest rate (e.g. 5.25)  %
Annual Property Taxes:
Enter Directly or enter tax rate
to estimate as percentage of purchase price

 

  Please scroll down for results.

 

Results

Your monthly payments with principal, interest and property taxes would be...
Your fortnightly payments with principal, interest and property taxes would be...
Your estimated savings in interest over the life of the mortgage would be approximately...
And your mortgage would be paid off in only years!

 

 

This calculator is provided to give you general guidelines and cannot predict factors unique to your finances.

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