# Mortgage Payment Calculator

## Mortgage Payment Calculator

### Mortgage Payment Frequency Options Explained

MORTGAGE PAYMENT FREQUENCY EXPLANATIONS & EXAMPLES*
Monthly 12 Mortgage Payments per Year

• Each payment is made once per month, typically on the 1st of every month.
• E.g., Mortgage Payment = \$1,000
Semi-Monthly 24 Mortgage Payments per Year

• Each payment is one half of the monthly payment amount and is paid twice per month, typically on the 1st and 15th of every month.
• E.g., Mortgage Payment = \$500
Bi-Weekly 26 Mortgage Payments per Year

• Each payment is determined by multiplying the monthly payment amount by 12 (months) and then dividing by 26 (weeks). Payments are made every two weeks.
• E.g., Mortgage Payment = \$461.54
Weekly 52 Mortgage Payments per Year

• Each payment is determined by multiplying the monthly payment x 12 (months) and then dividing by 52 (weeks). Payments are made every week.
• E.g., Mortgage Payment = \$230.77
Accelerated Bi-Weekly 26 Mortgage Payments per Year

• Each payment is determined by dividing the monthly payment amount by 2 and is paid every two weeks.
• E.g., Mortgage Payment = \$500
Accelerated Weekly 52 Mortgage Payments per Year

• Each payment is determined by dividing the monthly mortgage payment by 4 (weeks) and is paid weekly.
• E.g., Mortgage Payment = \$250

* For simplicity, each mortgage payment example assumes a \$1,000 monthly mortgage payment.