Mortgage Acceleration Calculator
Calculate mortgage acceleration benefits from biweekly payments, extra payments, and different payoff strategies.
How it works
Mortgage acceleration reduces loan term and total interest through extra payments. Biweekly payments make 26 payments yearly (13 monthly equivalents).
Example
$300K loan, 6.5%, 30 years: Standard = $1,896/month, Biweekly = $948 every 2 weeks saves $100K+ and 6+ years.
FAQ
What's the difference between acceleration methods?
Biweekly makes 26 payments/year, extra monthly adds to principal, and lump sums provide immediate balance reduction. All reduce total interest paid.
Which acceleration method is best?
Depends on cash flow. Biweekly is automatic and consistent. Extra payments offer flexibility. Lump sums provide immediate impact when you have windfalls.
Can I change acceleration methods later?
Yes, most are flexible. You can stop extra payments, change amounts, or switch methods based on your financial situation.
Are there downsides to mortgage acceleration?
Reduces liquidity and may not be optimal if you have higher-interest debt or better investment opportunities. Consider emergency fund needs.
Do all lenders allow extra payments?
Most allow extra principal payments without penalty. Some charge fees for bi-weekly programs. Always verify with your lender about prepayment policies.