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Weekly Amortization Schedule
Weekly loan calculator is used to calculate weekly payments for your loan. The weekly amortization schedule excel breaks down each payment details with principal and interest payments.
Weekly Amortization Schedule Calculator |
|
Loan Amount: |
$55,000.00 |
Weekly Payment: |
$247.61 |
Total # Of Payments: |
260 |
Start Date: |
Dec, 2024 |
Payoff Date: |
Nov, 2029 |
Total Interest Paid: |
$9,378.60 |
Total Payment: |
$64,378.60 |
Weekly Amortization Schedule |
||||||
| Payment Date | Payment # | Interest Paid | Principal Paid | Total Payment | Remaining Balance | |
|---|---|---|---|---|---|---|
| Dec, 2024 | 1 | $68.22 | $179.39 | $247.61 | $54,820.61 | |
| Dec, 2024 | 2 | $68.00 | $179.61 | $247.61 | $54,641.00 | |
| Dec, 2024 | 3 | $67.78 | $179.83 | $247.61 | $54,461.17 | |
| Dec, 2024 | 4 | $67.55 | $180.06 | $247.61 | $54,281.11 | |
| Dec, 2024 | 5 | $67.33 | $180.28 | $247.61 | $54,100.83 | |
| Jan, 2025 | 6 | $67.11 | $180.50 | $247.61 | $53,920.32 | |
| Jan, 2025 | 7 | $66.88 | $180.73 | $247.61 | $53,739.60 | |
| Jan, 2025 | 8 | $66.66 | $180.95 | $247.61 | $53,558.64 | |
| Jan, 2025 | 9 | $66.43 | $181.18 | $247.61 | $53,377.47 | |
| Feb, 2025 | 10 | $66.21 | $181.40 | $247.61 | $53,196.07 | |
| Feb, 2025 | 11 | $65.98 | $181.63 | $247.61 | $53,014.44 | |
| Feb, 2025 | 12 | $65.76 | $181.85 | $247.61 | $52,832.59 | |
| Feb, 2025 | 13 | $65.53 | $182.08 | $247.61 | $52,650.51 | |
| Mar, 2025 | 14 | $65.31 | $182.30 | $247.61 | $52,468.21 | |
| Mar, 2025 | 15 | $65.08 | $182.53 | $247.61 | $52,285.68 | |
| Mar, 2025 | 16 | $64.85 | $182.76 | $247.61 | $52,102.92 | |
| Mar, 2025 | 17 | $64.63 | $182.98 | $247.61 | $51,919.94 | |
| Mar, 2025 | 18 | $64.40 | $183.21 | $247.61 | $51,736.73 | |
| Apr, 2025 | 19 | $64.17 | $183.44 | $247.61 | $51,553.29 | |
| Apr, 2025 | 20 | $63.95 | $183.66 | $247.61 | $51,369.63 | |
| Apr, 2025 | 21 | $63.72 | $183.89 | $247.61 | $51,185.74 | |
| Apr, 2025 | 22 | $63.49 | $184.12 | $247.61 | $51,001.62 | |
| May, 2025 | 23 | $63.26 | $184.35 | $247.61 | $50,817.27 | |
| May, 2025 | 24 | $63.03 | $184.58 | $247.61 | $50,632.69 | |
| May, 2025 | 25 | $62.80 | $184.81 | $247.61 | $50,447.89 | |
| May, 2025 | 26 | $62.57 | $185.04 | $247.61 | $50,262.85 | |
| Jun, 2025 | 27 | $62.35 | $185.26 | $247.61 | $50,077.59 | |
| Jun, 2025 | 28 | $62.12 | $185.49 | $247.61 | $49,892.09 | |
| Jun, 2025 | 29 | $61.89 | $185.72 | $247.61 | $49,706.37 | |
| Jun, 2025 | 30 | $61.66 | $185.95 | $247.61 | $49,520.41 | |
| Jun, 2025 | 31 | $61.42 | $186.19 | $247.61 | $49,334.23 | |
| Jul, 2025 | 32 | $61.19 | $186.42 | $247.61 | $49,147.81 | |
| Jul, 2025 | 33 | $60.96 | $186.65 | $247.61 | $48,961.16 | |
| Jul, 2025 | 34 | $60.73 | $186.88 | $247.61 | $48,774.28 | |
| Jul, 2025 | 35 | $60.50 | $187.11 | $247.61 | $48,587.17 | |
| Aug, 2025 | 36 | $60.27 | $187.34 | $247.61 | $48,399.83 | |
| Aug, 2025 | 37 | $60.03 | $187.58 | $247.61 | $48,212.25 | |
| Aug, 2025 | 38 | $59.80 | $187.81 | $247.61 | $48,024.44 | |
| Aug, 2025 | 39 | $59.57 | $188.04 | $247.61 | $47,836.40 | |
| Aug, 2025 | 40 | $59.34 | $188.27 | $247.61 | $47,648.13 | |
| Sep, 2025 | 41 | $59.10 | $188.51 | $247.61 | $47,459.62 | |
| Sep, 2025 | 42 | $58.87 | $188.74 | $247.61 | $47,270.88 | |
| Sep, 2025 | 43 | $58.63 | $188.98 | $247.61 | $47,081.90 | |
| Sep, 2025 | 44 | $58.40 | $189.21 | $247.61 | $46,892.69 | |
| Oct, 2025 | 45 | $58.16 | $189.45 | $247.61 | $46,703.25 | |
| Oct, 2025 | 46 | $57.93 | $189.68 | $247.61 | $46,513.57 | |
| Oct, 2025 | 47 | $57.69 | $189.92 | $247.61 | $46,323.65 | |
| Oct, 2025 | 48 | $57.46 | $190.15 | $247.61 | $46,133.50 | |
| Nov, 2025 | 49 | $57.22 | $190.39 | $247.61 | $45,943.12 | |
| Nov, 2025 | 50 | $56.99 | $190.62 | $247.61 | $45,752.49 | |
| Nov, 2025 | 51 | $56.75 | $190.86 | $247.61 | $45,561.63 | |
| Nov, 2025 | 52 | $56.51 | $191.10 | $247.61 | $45,370.54 | |
| Nov, 2025 | 53 | $56.28 | $191.33 | $247.61 | $45,179.20 | |
| Dec, 2025 | 54 | $56.04 | $191.57 | $247.61 | $44,987.63 | |
| Dec, 2025 | 55 | $55.80 | $191.81 | $247.61 | $44,795.83 | |
| Dec, 2025 | 56 | $55.56 | $192.05 | $247.61 | $44,603.78 | |
| Dec, 2025 | 57 | $55.33 | $192.28 | $247.61 | $44,411.50 | |
| Jan, 2026 | 58 | $55.09 | $192.52 | $247.61 | $44,218.97 | |
| Jan, 2026 | 59 | $54.85 | $192.76 | $247.61 | $44,026.21 | |
| Jan, 2026 | 60 | $54.61 | $193.00 | $247.61 | $43,833.21 | |
| Jan, 2026 | 61 | $54.37 | $193.24 | $247.61 | $43,639.97 | |
| Feb, 2026 | 62 | $54.13 | $193.48 | $247.61 | $43,446.49 | |
| Feb, 2026 | 63 | $53.89 | $193.72 | $247.61 | $43,252.77 | |
| Feb, 2026 | 64 | $53.65 | $193.96 | $247.61 | $43,058.81 | |
| Feb, 2026 | 65 | $53.41 | $194.20 | $247.61 | $42,864.61 | |
| Mar, 2026 | 66 | $53.17 | $194.44 | $247.61 | $42,670.17 | |
| Mar, 2026 | 67 | $52.93 | $194.68 | $247.61 | $42,475.49 | |
| Mar, 2026 | 68 | $52.69 | $194.92 | $247.61 | $42,280.56 | |
| Mar, 2026 | 69 | $52.44 | $195.17 | $247.61 | $42,085.40 | |
| Mar, 2026 | 70 | $52.20 | $195.41 | $247.61 | $41,889.99 | |
| Apr, 2026 | 71 | $51.96 | $195.65 | $247.61 | $41,694.34 | |
| Apr, 2026 | 72 | $51.72 | $195.89 | $247.61 | $41,498.45 | |
| Apr, 2026 | 73 | $51.47 | $196.14 | $247.61 | $41,302.31 | |
| Apr, 2026 | 74 | $51.23 | $196.38 | $247.61 | $41,105.93 | |
| May, 2026 | 75 | $50.99 | $196.62 | $247.61 | $40,909.31 | |
| May, 2026 | 76 | $50.74 | $196.87 | $247.61 | $40,712.44 | |
| May, 2026 | 77 | $50.50 | $197.11 | $247.61 | $40,515.33 | |
| May, 2026 | 78 | $50.25 | $197.36 | $247.61 | $40,317.97 | |
| May, 2026 | 79 | $50.01 | $197.60 | $247.61 | $40,120.37 | |
| Jun, 2026 | 80 | $49.76 | $197.85 | $247.61 | $39,922.53 | |
| Jun, 2026 | 81 | $49.52 | $198.09 | $247.61 | $39,724.44 | |
| Jun, 2026 | 82 | $49.27 | $198.34 | $247.61 | $39,526.10 | |
| Jun, 2026 | 83 | $49.03 | $198.58 | $247.61 | $39,327.52 | |
| Jul, 2026 | 84 | $48.78 | $198.83 | $247.61 | $39,128.69 | |
| Jul, 2026 | 85 | $48.53 | $199.08 | $247.61 | $38,929.62 | |
| Jul, 2026 | 86 | $48.29 | $199.32 | $247.61 | $38,730.29 | |
| Jul, 2026 | 87 | $48.04 | $199.57 | $247.61 | $38,530.72 | |
| Aug, 2026 | 88 | $47.79 | $199.82 | $247.61 | $38,330.91 | |
| Aug, 2026 | 89 | $47.55 | $200.06 | $247.61 | $38,130.84 | |
| Aug, 2026 | 90 | $47.30 | $200.31 | $247.61 | $37,930.53 | |
| Aug, 2026 | 91 | $47.05 | $200.56 | $247.61 | $37,729.97 | |
| Aug, 2026 | 92 | $46.80 | $200.81 | $247.61 | $37,529.16 | |
| Sep, 2026 | 93 | $46.55 | $201.06 | $247.61 | $37,328.10 | |
| Sep, 2026 | 94 | $46.30 | $201.31 | $247.61 | $37,126.79 | |
| Sep, 2026 | 95 | $46.05 | $201.56 | $247.61 | $36,925.23 | |
| Sep, 2026 | 96 | $45.80 | $201.81 | $247.61 | $36,723.42 | |
| Oct, 2026 | 97 | $45.55 | $202.06 | $247.61 | $36,521.36 | |
| Oct, 2026 | 98 | $45.30 | $202.31 | $247.61 | $36,319.05 | |
| Oct, 2026 | 99 | $45.05 | $202.56 | $247.61 | $36,116.49 | |
| Oct, 2026 | 100 | $44.80 | $202.81 | $247.61 | $35,913.68 | |
| Nov, 2026 | 101 | $44.55 | $203.06 | $247.61 | $35,710.62 | |
| Nov, 2026 | 102 | $44.29 | $203.32 | $247.61 | $35,507.30 | |
| Nov, 2026 | 103 | $44.04 | $203.57 | $247.61 | $35,303.74 | |
| Nov, 2026 | 104 | $43.79 | $203.82 | $247.61 | $35,099.92 | |
| Nov, 2026 | 105 | $43.54 | $204.07 | $247.61 | $34,895.84 | |
| Dec, 2026 | 106 | $43.28 | $204.33 | $247.61 | $34,691.52 | |
| Dec, 2026 | 107 | $43.03 | $204.58 | $247.61 | $34,486.94 | |
| Dec, 2026 | 108 | $42.78 | $204.83 | $247.61 | $34,282.11 | |
| Dec, 2026 | 109 | $42.52 | $205.09 | $247.61 | $34,077.02 | |
| Jan, 2027 | 110 | $42.27 | $205.34 | $247.61 | $33,871.68 | |
| Jan, 2027 | 111 | $42.01 | $205.60 | $247.61 | $33,666.08 | |
| Jan, 2027 | 112 | $41.76 | $205.85 | $247.61 | $33,460.23 | |
| Jan, 2027 | 113 | $41.50 | $206.11 | $247.61 | $33,254.12 | |
| Jan, 2027 | 114 | $41.25 | $206.36 | $247.61 | $33,047.76 | |
| Feb, 2027 | 115 | $40.99 | $206.62 | $247.61 | $32,841.14 | |
| Feb, 2027 | 116 | $40.74 | $206.87 | $247.61 | $32,634.27 | |
| Feb, 2027 | 117 | $40.48 | $207.13 | $247.61 | $32,427.14 | |
| Feb, 2027 | 118 | $40.22 | $207.39 | $247.61 | $32,219.75 | |
| Mar, 2027 | 119 | $39.96 | $207.65 | $247.61 | $32,012.10 | |
| Mar, 2027 | 120 | $39.71 | $207.90 | $247.61 | $31,804.20 | |
| Mar, 2027 | 121 | $39.45 | $208.16 | $247.61 | $31,596.04 | |
| Mar, 2027 | 122 | $39.19 | $208.42 | $247.61 | $31,387.62 | |
| Apr, 2027 | 123 | $38.93 | $208.68 | $247.61 | $31,178.95 | |
| Apr, 2027 | 124 | $38.67 | $208.94 | $247.61 | $30,970.01 | |
| Apr, 2027 | 125 | $38.41 | $209.20 | $247.61 | $30,760.81 | |
| Apr, 2027 | 126 | $38.16 | $209.45 | $247.61 | $30,551.36 | |
| May, 2027 | 127 | $37.90 | $209.71 | $247.61 | $30,341.64 | |
| May, 2027 | 128 | $37.64 | $209.97 | $247.61 | $30,131.67 | |
| May, 2027 | 129 | $37.37 | $210.24 | $247.61 | $29,921.43 | |
| May, 2027 | 130 | $37.11 | $210.50 | $247.61 | $29,710.94 | |
| May, 2027 | 131 | $36.85 | $210.76 | $247.61 | $29,500.18 | |
| Jun, 2027 | 132 | $36.59 | $211.02 | $247.61 | $29,289.16 | |
| Jun, 2027 | 133 | $36.33 | $211.28 | $247.61 | $29,077.88 | |
| Jun, 2027 | 134 | $36.07 | $211.54 | $247.61 | $28,866.34 | |
| Jun, 2027 | 135 | $35.81 | $211.80 | $247.61 | $28,654.54 | |
| Jul, 2027 | 136 | $35.54 | $212.07 | $247.61 | $28,442.47 | |
| Jul, 2027 | 137 | $35.28 | $212.33 | $247.61 | $28,230.14 | |
| Jul, 2027 | 138 | $35.02 | $212.59 | $247.61 | $28,017.54 | |
| Jul, 2027 | 139 | $34.75 | $212.86 | $247.61 | $27,804.69 | |
| Aug, 2027 | 140 | $34.49 | $213.12 | $247.61 | $27,591.57 | |
| Aug, 2027 | 141 | $34.22 | $213.39 | $247.61 | $27,378.18 | |
| Aug, 2027 | 142 | $33.96 | $213.65 | $247.61 | $27,164.53 | |
| Aug, 2027 | 143 | $33.69 | $213.92 | $247.61 | $26,950.61 | |
| Aug, 2027 | 144 | $33.43 | $214.18 | $247.61 | $26,736.43 | |
| Sep, 2027 | 145 | $33.16 | $214.45 | $247.61 | $26,521.99 | |
| Sep, 2027 | 146 | $32.90 | $214.71 | $247.61 | $26,307.27 | |
| Sep, 2027 | 147 | $32.63 | $214.98 | $247.61 | $26,092.30 | |
| Sep, 2027 | 148 | $32.36 | $215.25 | $247.61 | $25,877.05 | |
| Oct, 2027 | 149 | $32.10 | $215.51 | $247.61 | $25,661.54 | |
| Oct, 2027 | 150 | $31.83 | $215.78 | $247.61 | $25,445.76 | |
| Oct, 2027 | 151 | $31.56 | $216.05 | $247.61 | $25,229.71 | |
| Oct, 2027 | 152 | $31.29 | $216.32 | $247.61 | $25,013.39 | |
| Oct, 2027 | 153 | $31.03 | $216.58 | $247.61 | $24,796.81 | |
| Nov, 2027 | 154 | $30.76 | $216.85 | $247.61 | $24,579.96 | |
| Nov, 2027 | 155 | $30.49 | $217.12 | $247.61 | $24,362.84 | |
| Nov, 2027 | 156 | $30.22 | $217.39 | $247.61 | $24,145.45 | |
| Nov, 2027 | 157 | $29.95 | $217.66 | $247.61 | $23,927.79 | |
| Dec, 2027 | 158 | $29.68 | $217.93 | $247.61 | $23,709.86 | |
| Dec, 2027 | 159 | $29.41 | $218.20 | $247.61 | $23,491.65 | |
| Dec, 2027 | 160 | $29.14 | $218.47 | $247.61 | $23,273.18 | |
| Dec, 2027 | 161 | $28.87 | $218.74 | $247.61 | $23,054.44 | |
| Jan, 2028 | 162 | $28.60 | $219.01 | $247.61 | $22,835.43 | |
| Jan, 2028 | 163 | $28.32 | $219.29 | $247.61 | $22,616.14 | |
| Jan, 2028 | 164 | $28.05 | $219.56 | $247.61 | $22,396.58 | |
| Jan, 2028 | 165 | $27.78 | $219.83 | $247.61 | $22,176.76 | |
| Jan, 2028 | 166 | $27.51 | $220.10 | $247.61 | $21,956.65 | |
| Feb, 2028 | 167 | $27.23 | $220.38 | $247.61 | $21,736.28 | |
| Feb, 2028 | 168 | $26.96 | $220.65 | $247.61 | $21,515.63 | |
| Feb, 2028 | 169 | $26.69 | $220.92 | $247.61 | $21,294.71 | |
| Feb, 2028 | 170 | $26.41 | $221.20 | $247.61 | $21,073.51 | |
| Mar, 2028 | 171 | $26.14 | $221.47 | $247.61 | $20,852.04 | |
| Mar, 2028 | 172 | $25.86 | $221.75 | $247.61 | $20,630.29 | |
| Mar, 2028 | 173 | $25.59 | $222.02 | $247.61 | $20,408.27 | |
| Mar, 2028 | 174 | $25.31 | $222.30 | $247.61 | $20,185.98 | |
| Apr, 2028 | 175 | $25.04 | $222.57 | $247.61 | $19,963.41 | |
| Apr, 2028 | 176 | $24.76 | $222.85 | $247.61 | $19,740.56 | |
| Apr, 2028 | 177 | $24.49 | $223.12 | $247.61 | $19,517.43 | |
| Apr, 2028 | 178 | $24.21 | $223.40 | $247.61 | $19,294.03 | |
| Apr, 2028 | 179 | $23.93 | $223.68 | $247.61 | $19,070.36 | |
| May, 2028 | 180 | $23.65 | $223.96 | $247.61 | $18,846.40 | |
| May, 2028 | 181 | $23.38 | $224.23 | $247.61 | $18,622.17 | |
| May, 2028 | 182 | $23.10 | $224.51 | $247.61 | $18,397.66 | |
| May, 2028 | 183 | $22.82 | $224.79 | $247.61 | $18,172.87 | |
| Jun, 2028 | 184 | $22.54 | $225.07 | $247.61 | $17,947.80 | |
| Jun, 2028 | 185 | $22.26 | $225.35 | $247.61 | $17,722.45 | |
| Jun, 2028 | 186 | $21.98 | $225.63 | $247.61 | $17,496.82 | |
| Jun, 2028 | 187 | $21.70 | $225.91 | $247.61 | $17,270.91 | |
| Jul, 2028 | 188 | $21.42 | $226.19 | $247.61 | $17,044.73 | |
| Jul, 2028 | 189 | $21.14 | $226.47 | $247.61 | $16,818.26 | |
| Jul, 2028 | 190 | $20.86 | $226.75 | $247.61 | $16,591.51 | |
| Jul, 2028 | 191 | $20.58 | $227.03 | $247.61 | $16,364.48 | |
| Jul, 2028 | 192 | $20.30 | $227.31 | $247.61 | $16,137.17 | |
| Aug, 2028 | 193 | $20.02 | $227.59 | $247.61 | $15,909.57 | |
| Aug, 2028 | 194 | $19.73 | $227.88 | $247.61 | $15,681.70 | |
| Aug, 2028 | 195 | $19.45 | $228.16 | $247.61 | $15,453.54 | |
| Aug, 2028 | 196 | $19.17 | $228.44 | $247.61 | $15,225.10 | |
| Sep, 2028 | 197 | $18.88 | $228.73 | $247.61 | $14,996.37 | |
| Sep, 2028 | 198 | $18.60 | $229.01 | $247.61 | $14,767.36 | |
| Sep, 2028 | 199 | $18.32 | $229.29 | $247.61 | $14,538.07 | |
| Sep, 2028 | 200 | $18.03 | $229.58 | $247.61 | $14,308.49 | |
| Oct, 2028 | 201 | $17.75 | $229.86 | $247.61 | $14,078.63 | |
| Oct, 2028 | 202 | $17.46 | $230.15 | $247.61 | $13,848.49 | |
| Oct, 2028 | 203 | $17.18 | $230.43 | $247.61 | $13,618.05 | |
| Oct, 2028 | 204 | $16.89 | $230.72 | $247.61 | $13,387.33 | |
| Oct, 2028 | 205 | $16.61 | $231.00 | $247.61 | $13,156.33 | |
| Nov, 2028 | 206 | $16.32 | $231.29 | $247.61 | $12,925.04 | |
| Nov, 2028 | 207 | $16.03 | $231.58 | $247.61 | $12,693.46 | |
| Nov, 2028 | 208 | $15.74 | $231.87 | $247.61 | $12,461.60 | |
| Nov, 2028 | 209 | $15.46 | $232.15 | $247.61 | $12,229.44 | |
| Dec, 2028 | 210 | $15.17 | $232.44 | $247.61 | $11,997.00 | |
| Dec, 2028 | 211 | $14.88 | $232.73 | $247.61 | $11,764.27 | |
| Dec, 2028 | 212 | $14.59 | $233.02 | $247.61 | $11,531.26 | |
| Dec, 2028 | 213 | $14.30 | $233.31 | $247.61 | $11,297.95 | |
| Dec, 2028 | 214 | $14.01 | $233.60 | $247.61 | $11,064.35 | |
| Jan, 2029 | 215 | $13.72 | $233.89 | $247.61 | $10,830.47 | |
| Jan, 2029 | 216 | $13.43 | $234.18 | $247.61 | $10,596.29 | |
| Jan, 2029 | 217 | $13.14 | $234.47 | $247.61 | $10,361.82 | |
| Jan, 2029 | 218 | $12.85 | $234.76 | $247.61 | $10,127.07 | |
| Feb, 2029 | 219 | $12.56 | $235.05 | $247.61 | $9,892.02 | |
| Feb, 2029 | 220 | $12.27 | $235.34 | $247.61 | $9,656.68 | |
| Feb, 2029 | 221 | $11.98 | $235.63 | $247.61 | $9,421.05 | |
| Feb, 2029 | 222 | $11.69 | $235.92 | $247.61 | $9,185.12 | |
| Mar, 2029 | 223 | $11.39 | $236.22 | $247.61 | $8,948.90 | |
| Mar, 2029 | 224 | $11.10 | $236.51 | $247.61 | $8,712.39 | |
| Mar, 2029 | 225 | $10.81 | $236.80 | $247.61 | $8,475.59 | |
| Mar, 2029 | 226 | $10.51 | $237.10 | $247.61 | $8,238.49 | |
| Apr, 2029 | 227 | $10.22 | $237.39 | $247.61 | $8,001.10 | |
| Apr, 2029 | 228 | $9.92 | $237.69 | $247.61 | $7,763.42 | |
| Apr, 2029 | 229 | $9.63 | $237.98 | $247.61 | $7,525.44 | |
| Apr, 2029 | 230 | $9.33 | $238.28 | $247.61 | $7,287.16 | |
| Apr, 2029 | 231 | $9.04 | $238.57 | $247.61 | $7,048.59 | |
| May, 2029 | 232 | $8.74 | $238.87 | $247.61 | $6,809.72 | |
| May, 2029 | 233 | $8.45 | $239.16 | $247.61 | $6,570.56 | |
| May, 2029 | 234 | $8.15 | $239.46 | $247.61 | $6,331.10 | |
| May, 2029 | 235 | $7.85 | $239.76 | $247.61 | $6,091.34 | |
| Jun, 2029 | 236 | $7.56 | $240.05 | $247.61 | $5,851.29 | |
| Jun, 2029 | 237 | $7.26 | $240.35 | $247.61 | $5,610.94 | |
| Jun, 2029 | 238 | $6.96 | $240.65 | $247.61 | $5,370.29 | |
| Jun, 2029 | 239 | $6.66 | $240.95 | $247.61 | $5,129.34 | |
| Jul, 2029 | 240 | $6.36 | $241.25 | $247.61 | $4,888.09 | |
| Jul, 2029 | 241 | $6.06 | $241.55 | $247.61 | $4,646.54 | |
| Jul, 2029 | 242 | $5.76 | $241.85 | $247.61 | $4,404.70 | |
| Jul, 2029 | 243 | $5.46 | $242.15 | $247.61 | $4,162.55 | |
| Jul, 2029 | 244 | $5.16 | $242.45 | $247.61 | $3,920.10 | |
| Aug, 2029 | 245 | $4.86 | $242.75 | $247.61 | $3,677.36 | |
| Aug, 2029 | 246 | $4.56 | $243.05 | $247.61 | $3,434.31 | |
| Aug, 2029 | 247 | $4.26 | $243.35 | $247.61 | $3,190.96 | |
| Aug, 2029 | 248 | $3.96 | $243.65 | $247.61 | $2,947.31 | |
| Sep, 2029 | 249 | $3.66 | $243.95 | $247.61 | $2,703.35 | |
| Sep, 2029 | 250 | $3.35 | $244.26 | $247.61 | $2,459.09 | |
| Sep, 2029 | 251 | $3.05 | $244.56 | $247.61 | $2,214.53 | |
| Sep, 2029 | 252 | $2.75 | $244.86 | $247.61 | $1,969.67 | |
| Sep, 2029 | 253 | $2.44 | $245.17 | $247.61 | $1,724.50 | |
| Oct, 2029 | 254 | $2.14 | $245.47 | $247.61 | $1,479.03 | |
| Oct, 2029 | 255 | $1.83 | $245.78 | $247.61 | $1,233.26 | |
| Oct, 2029 | 256 | $1.53 | $246.08 | $247.61 | $987.18 | |
| Oct, 2029 | 257 | $1.22 | $246.39 | $247.61 | $740.79 | |
| Nov, 2029 | 258 | $0.92 | $246.69 | $247.61 | $494.10 | |
| Nov, 2029 | 259 | $0.61 | $247.00 | $247.61 | $247.10 | |
| Nov, 2029 | 260 | $0.31 | $247.30 | $247.61 | $0.00 | |
What are accelerated weekly mortgage payments?
The default payment frequency for most home mortgages and personal loans is monthly payments. When borrowers borrow money from the bank or lender, they are expected to pay back their lenders the principal plus interest with monthly payments. Depending on the size of the mortgage, the terms, and the interest rate, the borrower will end up paying a lot of money on interest. To save money, borrowers can choose to make accelerated mortgage payments in terms of extra payments, biweekly payments, or even weekly payments. While extra payments toward principal and biweekly payments are common these days, weekly payment frequency is pretty rare. Borrowers who decided to make accelerated weekly mortgage payments should check with their lender and make sure that they offer weekly payments without a prepayment penalty.
How does the weekly amortization schedule work?
The weekly amortization schedule works just like a regular amortization schedule except now the payments are for each week instead of each month. Since there are 52 weeks per year, borrowers will have to make 52 payments per year. Each payment will be 1/4 the size of the monthly payment. If the mortgage term is for 30 years, the borrower will need to make a total of 1,560 payments to make rather than 360 payments.
How much do weekly mortgage payments save?
The savings on weekly mortgage payments is huge compared to monthly payments. Let's take a look at the following example. Loan: $100,000 Terms: 10 years Interest Rate: 5.5% With monthly payments, the borrower will pay $1,085.26 each month for 10 years. Monthly Payment: $1,085.26 Total Interest Payment: $30,231.53 With weekly payment plans, the borrower will pay Monthly Payment: $271.32 Total Interest Payment: $21,029.70 As we can see from the above, borrowers who choose to make weekly payments save about $9,201.83 on their mortgages.
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