Web Winder Website Calculators: Free Calculators: Bi-Weekly Mortgage Calculator

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Installation Instructions: Bi-Weekly Mortgage Calculator

Terms of Use: You may install this Bi-Weekly Mortgage Calculator on your site for free, so long as my copyright info remains embedded in the code and the link back to my website is visible on the page you install the calculator on. You will find a link to the installation page located just beneath the calculator on this page.
If you would like to purchase a license for the latest commercial grade (professional) version of this calculator, please visit our Commercial Calculator Center.
If you would simply like to use an upgraded version of this calculator for your own personal use, I invite you to try our ever-growing collection of consumer-oriented calculators on our free online calculator use website for consumer decision making, discovery, and learning.

Below are the instructions for installing the Bi-Weekly Mortgage Calculator on your website:

Step #1: Select and copy the script from the following text box, then paste between the <HEAD> and </HEAD> tags of the page you are installing the calculator on.

//DO NOT REMOVE THIS COPYWRITE INFO!
//Bi-Weekly Mortgage Calculator
//By Daniel C. Peterson
//Web Winder Website Services, 1997-2024  All Rights Reserved.
//Distribution, editing or reselling of this script is strictyly prohibited
//without expressed written permission from Daniel C. Peterson.
//For commercial grade (professional) versions of this and many other
//calculators, visit http://www.webwinder.com.

function computeForm(form) {

var pmt1 = form.payment.value;

var pmt2 = form.payment.value / 2;

var prin1 = form.principal.value;

var prin2 = form.principal.value;

var intPort1 = 0;

var intPort2 = 0;

var prinPort1 = 0;

var prinPort2 = 0;

var accumInt1 = 0;

var accumPrin1 = 0;

var accumInt2 = 0;

var accumPrin2 = 0;

var i = form.intRate.value;

if (i > 1.0) {

i = i / 100.0;

form.intRate.value = i;

}

var i1  = i  / 12;

var i2 = i / 26;

var count1 = 0;

var count2 = 0;

while(prin1 > 0) {

intPort1 = prin1 * i1;

prinPort1 = pmt1 - intPort1;

prin1 = prin1 - prinPort1;

accumPrin1 = accumPrin1 + prinPort1;

accumInt1 = accumInt1 + intPort1;

count1 = count1 + 1;

if(count1 > 600) {
        break;
        } else {
        continue;
        }

}

if(count1 > 600) {
 alert("Using your entered terms you will never pay off this amount.  Please either lower the principal amount, lower the interest rate, or increase the payment amount.;")
        form.origInt.value = "";
        form.biwkInt.value = "";
        form.intSave.value = "";
        form.time.value = "";
        } else {

form.origInt.value = "$" + parseInt(accumInt1,10);

while(prin2 > 0) {

intPort2 = prin2 * i2;

prinPort2 = pmt2 - intPort2;

prin2 = prin2 - prinPort2;

accumPrin2 = accumPrin2 + prinPort2;

accumInt2 = accumInt2 + intPort2;

count2 = count2 + 1;

if(count1 > 600) {break; } else {continue; }

}
    
    form.biwkInt.value = "$" + parseInt(accumInt2,10);

form.intSave.value = "$" + parseInt(accumInt1 - accumInt2,10);

form.time.value = "In essence, what you are really doing is adding a 13th payment to your annual number of payments, and splitting it up between 26 bi-weekly payments. Which in your case means that by coughing up and extra $" + parseInt(pmt1 / 26,10) + " every two weeks you will pay off your mortgage in " + parseInt(count2 /26*12,10) + " months instead of the current " + count1 + " months, and save $" + parseInt(accumInt1 - accumInt2) + " in mortgage interest in the process.  Now I ask you, is there anything else you would rather spend your $" + parseInt(accumInt1 - accumInt2) + " on besides interest?";

}
		
}

function clearForm(form)

{

form.principal.value = "";

form.payment.value = "";

form.intRate.value = "";

form.intSave.value = "";

form.origInt.value = "";

form.biwkInt.value = "";

form.time.value = "";

}

</script>

Step #2: Select and copy the following HTML form code, then paste in the desired location between the <BODY> and </BODY> tags of the page you are installing the calculator on.

<form method="post">
<table BORDER="1" CELLSPACING="0" CELLPADDING="4">

<tr>
<td align="center" COLSPAN="2">
<font face='arial'><big><strong>Bi-Weekly Mortgage Calculator</strong></big></font>
</td>
</tr>

<tr>
<td COLSPAN="2">
<font face='arial'><small>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!</small></font>

</td>
</tr>

<tr>
<td><font face='arial'><small>Enter the principal balance of your mortgage </small></font><br>
<font face='tahoma,arial'><small><small>(call your mortgage lender and ask
for the current payoff amount)</small></small></font>:</td>
<td><input TYPE="text" NAME="principal" SIZE="15"></td>
</tr>

<tr>
<td><font face='arial'><small>Enter the amount of your monthly mortgage payment:</small></font><br>
<font face='tahoma,arial'><small><small>(principal and interest portion only)</small></small></font>:</td>
<td><input TYPE="text" NAME="payment" SIZE="15"></td>
</tr>
<tr>
<td><font face='arial'><small>Enter the your mortgage's current interest rate:</small></font></td>
<td><input TYPE="text" NAME="intRate" SIZE="15"></td>
</tr>
<tr>
<td align="center" colspan="2"><input TYPE="button" VALUE="Compute" onClick="computeForm(this.form)"> <input TYPE="reset" VALUE="Reset" onClick="clearForm(this.form)"></td>
</tr>

<tr>
<td><font face='arial'><small>This is how much interest you will pay under your current monthly payment plan:</small></font></td>
<td><input TYPE="text" NAME="origInt" SIZE="15"></td>
</tr>
<tr>
<td><font face='arial'><small>This is how much interest you will pay if you switch to a bi-weekly mortgage
payment plan:</small></font></td>
<td><input TYPE="text" NAME="biwkInt" SIZE="15"></td>
</tr>
<tr>
<td><font face='arial'><small>Bi-weekly Mortgage Interest Savings:</small></font></td>
<td><input TYPE="text" NAME="intSave" SIZE="15"></td>
</tr>
<tr>
<td align="center" COLSPAN="2"><textarea COLS="60" ROWS="6" name="time" wrap="virtual"></textarea></td>
</tr>

<tr>
<td align="center" COLSPAN="2"><font face='tahoma,arial'><small><small>Copyright © 1997-2024<i> <a href='http://www.webwinder.com'>Web Winder Site Traffic Magnets</a></i>. All rights reserved.</small></small></font></td>
</tr>
</table>
</form>

Step #3: Edit the form HTML to match the look and feel of your site, then save and upload the page to your server and you're done!

**Please note that we do not provide support or installation help for the free versions of our calculators. We do provide support and installation help for our professional versions.

Home > Free Site Traffic Magnets > Free Calculators > Bi-Weekly Mortgage Calculator Installation

Contact: Dan Peterson
P.O. Box 11
Bemidji, MN 56619
(218) 243-2263