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Biweekly Mortgage Calculator

See how biweekly mortgage payments can reduce your total interest and help you pay off your loan faster.

Loan details

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Biweekly payments are half the monthly amount paid every two weeks. Because there are 26 biweekly periods in a year, you make the equivalent of 13 monthly payments annually, accelerating payoff.

Biweekly impact

Interest saved

$92,260.72

Monthly payment

$1,896.20

Biweekly payment

$948.10

Original payoff

Jul 2056

Biweekly payoff

May 2050

Results are estimates. Verify with your lender that biweekly payments are applied immediately to principal.

How to use

  1. Enter your loan amount, interest rate and loan term.
  2. Review the biweekly payment amount.
  3. Compare the original payoff date with the biweekly payoff date.
  4. See total interest saved.

Formula

Biweekly payment = Monthly payment ÷ 2.

There are 26 biweekly periods in a year, so you make the equivalent of 13 monthly payments per year instead of 12.

The extra payment each year reduces principal faster, which shortens the payoff date and lowers total interest.

Example

For a $300,000 loan at 6.5% over 30 years:

Monthly payment ≈ $1,896.20; Biweekly payment ≈ $948.10; You could save around $90,000 in interest and pay off the loan several years earlier.

Frequently asked questions

Do all lenders offer biweekly payments?
Some lenders offer biweekly payment plans; others do not. Third-party services may charge fees, so setting up automatic half-payments yourself is often better.
When do biweekly payments make sense?
They work well if you are paid biweekly and want a simple way to pay extra principal without thinking about it.
Can I just make one extra payment per year instead?
Yes. Making one extra monthly payment per year toward principal has a similar effect. The biweekly approach spreads it evenly.
Are there fees for biweekly programs?
Some third-party services charge setup or per-transaction fees. Avoid programs where fees eat up the interest savings.
How does a biweekly mortgage payment work?
You pay half your monthly payment every two weeks, resulting in 26 half-payments (13 full payments) per year instead of 12.
How much does biweekly pay save?
On a 30-year $300,000 loan at 6.5%, biweekly payments can save 4–5 years and $80,000+ in interest compared to monthly payments.

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