Need a Mortgage pre-payment and bi-weekly payment function!?
I just bought my first home and I want to pay it off by the time I turn 30 years old. I’m 20 and I make 30K a year. My husband does as well. I want to pay an extra $ 50 monthly and $ 5500 yearly towards the mortgage. And I want to do this while making bi-weekly payments for principal/interest/prepayment total. The calculators I have used so far only do 2 out of 3 of the functions I want. And I cut the loan down to about 13 years that way. I know that a calculator doing all three will really knock that time down. I want a calculator that will do all three because I’m ready to pay this off and start on my next property. Can I do this myself? Please help!
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So anyone who answers knows…I closed on my mortgage with 6.625% for 30 years fixed. I don’t need a recommendation… I would like a solution to my problem. Thanks!
Hey guys..the bi-weekly calculators are awesome. But I need a different kind of calculator.
2. monthly prepay and
3. yearly prepay included.
I have already used the bi-weekly calculator from Banksite and included monthly pre-payment. But I want a yearly pre-pay function in addition to these two.
Can I do these functions on my own, without a calculator?