Mortgage mini-glossary

Bi-weekly normal/non-accelerated US home mortgage payment formula example

To calculate your bi-weekly normal/non-accelerated US home mortgage payments, times your answer from step eleven by the number "12." Then, divide that answer by the number "26."

So for example, if your answer in step eleven was 1,887.12 then you would write:

step twelve answer = (1,887.12 x 12) / 26
step twelve answer = 22,645.44 / 26
step twelve answer = $ 870.98 bi-weekly (normal/non-accelerated)

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