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Alternative Payment Frequency

Use the Alternative Payment Frequency calculator to estimate mortgage or amortizing loans with a variety of payment frequency options.

Mortgage Loans

Generate an amortization schedule for a current or new mortgage. Quickly see the total interest paid and principal balances. Select the 'View Report' button to see a full amortization schedule by the frequency of payments.

Amortizing Loans

Enter the desired payment and let us calculate your loan amount. Or enter the loan amount and we'll calculate the monthly payment. Examine the principal balances by payment, total of all payments made and total interest paid.

Payment frequency

Choose how often payments will be made. The options are weekly (52 payments per year), bi-weekly (26 payments per year), semi-monthly (24 payments per year), monthly (12 payments per year), bi-monthly (6 payments per year), quarterly (4 payments per year), semi-annually (2 payments per year), and annually (1 payment per year).

Loan payment is $400.76 for 60 payments at 7.5%.
Loan inputs:[-]
Calculate:
$0
$100k
$1m
$10m
0%
16%
33%
50%
1
120
240
360
$4,045.51
$24,045.51

Please view the report to see detailed calculation results.

Balances for a $20,000 loan[-]

Please view the report to see detailed calculation results.

Total Principal and Interest by Payment[-]

Definitions

Loan amount
Total amount of your loan.
Payment
Payment for this loan.
Interest rate
Annual interest rate for this loan. Interest is calculated each period on the current outstanding balance of your loan. The periodic rate is your annual rate divided by the number of periods per year.
Number of payments
Number of payments for this loan.
Payment frequency
Choose how often payments will be made. The options are weekly (52 payments per year), bi-weekly (26 payments per year), semi-monthly (24 payments per year), monthly (12 payments per year), bi-monthly (6 payments per year), quarterly (4 payments per year), semi-annual (2 payments per year), and annually (1 payment per year).
Interest paid
Total amount of interest that will be paid on this loan. This total assumes all payments are made as scheduled, and there are no prepayments of principal.
Total payments
Total all payments for this loan. This includes all interest and principal. This total assumes all payments are made as scheduled, and there are no prepayments of principal.


Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.