Biweekly vs Monthly Mortgage Calculator - Which Saves You More?
Compare biweekly and monthly mortgage payments side-by-side. See exact savings, payoff time, and total interest. Make the right choice for your situation.
Did you know? Switching to biweekly payments could save you $67,000 on a typical mortgage.
But is it right for everyone? Let's compare your exact savings with both payment strategies and find the perfect approach for your financial situation...
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Frequently Asked Questions
How do biweekly payments save money?
By making 26 half-payments instead of 12 full payments, you make one extra full payment per year. This extra payment goes directly to principal, reducing interest charges significantly.
Will my lender accept biweekly payments?
Most lenders accept biweekly payments. Some offer official programs, while others allow you to make half-payments every two weeks manually. Check with your lender for specific options.
Is biweekly better than monthly with extra payments?
Biweekly payments are automatic and disciplined. Monthly with extra payments can save more if you're consistent, but biweekly ensures you save without thinking about it.
When should I stick with monthly payments?
Keep monthly payments if you have irregular income, very tight budget constraints, or plan to move within 2-3 years. Otherwise, biweekly typically saves more.
Ready to Save Thousands with Biweekly Payments?
Most homeowners can save $50,000+ just by switching payment frequency!