This calculator will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. In effect, you will be making one extra mortgage payment per year--without hardly noticing the additional cash outflow. But, as your about to discover, you will certainly notice the increased cash flow that will occur when you pay your mortgage off way ahead of schedule!

Refer to the Bank of Canada for the latest interest rates.

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PRINCIPAL BALANCE OF MORTGAGE
MONTHLY MORTGAGE PAYMENT
INTEREST RATE
INTEREST PAID UNDER CURRENT MONTHLY PAYMENT PLAN
INTEREST PAID IF SWITCHED TO A BI-WEEKLY PAYMENT PLAN
BI-WEEKLY MORTGAGE INTEREST SAVINGS
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