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Bi-Weekly Refinance Calculator

Bi-Weekly Refinance Calculator

Determine if it makes sense for you to refinance your bi-weekly mortgage by comparing your current mortgage to a new mortgage. Analyze potential savings in your bi-weekly mortgage payment and total interest expense over the life the mortgage gained by refinancing

Watch our Bi-Weekly Mortgage Refinance Calculator "How To" video

Inputs

The amount of your current monthly bi-weekly payment
Please Enter Current Mortgage Payment
Your current mortgage balance. You can find this figure on your most recent monthly mortgage statement or by calling your lender
Please Enter Current Mortgage Balance
Amount of new mortgage
Please Enter Amount of New (Refinanced) Mortgage
The interest rate for a bi-weekly mortgage is generally based on the interest rate for a 30 year mortgage. The current interest rate for a 30 year mortgage is approximately 3.500%
Please Select Rate of New Mortgage
The length, in years, of your new mortgage. The most common mortgage term is 30 years
Please Select Mortgage Term (Years)
One-time costs such as lender fees and points, title insurance, appraisal fee and attorney fees (in the South)
Non-Recurring Refinancing Closing Costs
The type of mortgage your looking to obtain
Please Select Mortgage Type
Submit Valid Info to Compare Lenders and Save Money!When you provide valid personal info we may connect you with lenders which enables you to compare mortgage proposals and find the mortgage that is right for you. Click calculator for a version of this calculator that does not require personal info
 
Please Enter Your First & Last Name
Please Enter a Valid First Name
Please Enter a Valid Last Name
 
Please Enter Your Phone Number
Please Enter a Valid Phone
Please Enter Your Email
Please Enter a Valid Email
Your credit score to the best of your knowledge
Please Select Credit Score

Outputs

Bi-weekly mortgage payment based on new mortgage terms
Total interest expense you will pay over the life of your new mortgage based on the terms of your refinancing
Depending on your existing mortgage balance, the amount of your new mortgage and the amount of closing costs, you may be able to keep some of the proceeds when you refinance your mortgage. The value of your property and LTV ratio will also determine your ability to take cash out when you refinance. In some cases, you may also be required to contribute money to cover closing costs
Savings from Refinancing
The amount of money you save (or additional interest expense you incur) per payment period by refinancing
The amount of time it will take you to recover the non-recurring closing costs required to refinance your mortgage based on your savings per payment period

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Current Mortgage Rates in San Diego1, California1 as of January 20, 2021
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
While we pride ourselves on the quality and breadth of the FREEandCLEAR mortgage calculators please note that they should be used for informational purposes only. Our calculators rely on assumptions by us and inputs and assumptions provided by you, which may be inaccurate. The outputs from our calculators are estimates only and should not be used as the sole basis for making any financial decisions. Always consult multiple financial professionals when determining the mortgage size and program that is appropriate for you.
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