Bimonthly Mortgage Calculator

Bimonthly Mortgage Calculator is an online personal finance assessment tool to determine bimonthly payment, total interest and repayment. Bimonthly mortgage is a home loan plan in which a borrower makes a payment towards the interest and principal amount for every two months instead of monthly payments like in traditional mortgages. Generally it is a much longer mortgage plan when compared to traditional mortgages. The total interest cost on principal is higher than the traditional one due to its double the length of ordinary mortgage plans. Anyhow this is much suitable for persons those who want to pay payments for once for ever two months according to their financial status. When the borrower want opt for bimonthly mortgage plans, the basic comparison must be done before signing any agreements to avoid the unnecessary payments. So when it comes to online calculation this bimonthly mortgage calculator assists you to determine which financing option provides you the best deal based on the values of principal amount, interest rate and total time duration.