Biweekly Mortgage Calculator
Paying half your mortgage every two weeks makes 26 half-payments a year — one extra full payment — which shortens the loan and cuts total interest.
Your details
- Years saved
- 5.42
- Biweekly payment
- $899.33
- Standard monthly payment
- $1,798.65
Interest saved
- Interest (biweekly)
- $273,849.2179%
- Interest saved
- $73,665.3621%
Formula
26 biweekly half-payments equal 13 monthly payments per year. The extra payment goes straight to principal, so the balance amortizes faster.
How it works
Paying half your monthly amount every two weeks results in 26 half-payments — the equivalent of 13 full monthly payments — each year. That one extra payment goes entirely to principal, shortening the loan and cutting total interest.
Frequently asked questions
How much time does a biweekly schedule save?⌄
On a typical 30-year loan, the extra annual payment often shortens the term by about four to six years and saves a meaningful amount of interest.
Do I need my lender to set this up?⌄
Not necessarily. You can get the same result by adding one-twelfth of a payment to each monthly payment yourself, avoiding any third-party biweekly service fees.
Are biweekly payments always worth it?⌄
They help when the extra goes to principal with no fees. If a service charges to set them up, doing it yourself is usually the better deal.
Sources & methodology
- •CFPB — mortgage basics — CFPB
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