Mortgage mini-glossary

Bi-weekly accelerated Canadian home mortgage payment formula example

To calculate your bi-weekly accelerated Canadian home mortgage payments, divide your answer from step fourteen by the number "2."

So for example, if your answer in step fourteen was 1,884.77 then you would write:

step fifteen answer = 1,884.77 / 2
step fifteen answer = $ 942.38 bi-weekly (accelerated)

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