Biweekly Mortgage Calculator

See how biweekly payments can help you pay off your mortgage faster and save on interest

How Biweekly Payments Work

Instead of making 12 monthly payments per year, biweekly payments split your monthly payment in half and pay it every two weeks. Since there are 52 weeks in a year, you make 26 half-payments, which equals 13 full monthly payments instead of 12.

Step 1

Divide your monthly payment by 2

Step 2

Pay that amount every 2 weeks

Step 3

Make 26 payments per year (13 full payments)

This extra payment per year goes directly toward your principal, significantly reducing the total interest paid over the life of the loan and shortening your payoff timeline.

Calculate Your Biweekly Savings

LTV: 80.0%

Extra Payment Options

Benefits of Biweekly Payments

  • Pay off your mortgage years earlier

    Typically 5-7 years faster on a 30-year mortgage

  • Save thousands in interest

    The extra payment reduces principal faster

  • Build equity faster

    More of each payment goes to principal

  • Easier budgeting

    Aligns with biweekly paychecks

Frequently Asked Questions

Do all lenders accept biweekly payments?

Not all lenders offer true biweekly payment programs. Some may hold payments until the full monthly amount is received. Check with your lender about their specific policies.

Are there fees for biweekly payments?

Some lenders or third-party services charge setup or transaction fees. You can achieve similar results by making one extra monthly payment per year or adding 1/12 of your payment to each monthly payment.

How much can I really save?

On a $300,000 30-year mortgage at 6.5%, biweekly payments can save over $100,000 in interest and pay off the loan about 6 years earlier.

Important Disclaimer

This calculator is for educational purposes only. Actual savings depend on your specific loan terms and lender policies. Some loans may have prepayment penalties. Always consult with your lender before changing your payment schedule.