Biweekly Mortgage Payment Calculator
Paying every two weeks instead of monthly means you make 13 payments per year instead of 12 — one extra payment that goes straight to principal. See how much you save.
What you'll need
- Loan amount
- Interest rate
- Loan term (15, 20, or 30 years)
What you'll get
Biweekly vs monthly payment
Side-by-side comparison
Total interest savings
In real dollars
Years & months saved
How much sooner you pay off
Extra annual payment
What the strategy costs you
How It Works
Enter your mortgage details
Input loan balance, interest rate, and remaining term.
Compare payment schedules
Biweekly payments mean 26 half-payments per year — equal to 13 monthly payments.
See interest savings
Receive total interest saved and months shaved off your loan term.
Biweekly vs Monthly: $300,000 at 7%
| Metric | Monthly | Biweekly |
|---|---|---|
| Payment amount | $1,996/mo | $998/2wks |
| Annual payments | $23,952 | $25,948 |
| Loan term | 30 years | 25 yrs 9 mo |
| Total interest | $418,527 | $349,000 |
Biweekly payments save ~$69,527 in interest on a typical 30-year mortgage.
Frequently asked questions
How does biweekly mortgage payment work?
Instead of 12 monthly payments, you make 26 half-payments per year. That equals 13 full monthly payments instead of 12 — one extra payment per year. That extra payment goes directly to principal, cutting years off your loan and saving significant interest.
How much does biweekly payments save on a 30-year mortgage?
On a $300,000 mortgage at 6.75%, biweekly payments typically save $30,000–$40,000 in interest and shorten the payoff by 4–6 years. The savings compound because each extra payment reduces your balance, lowering future interest charges.
Can I just make one extra mortgage payment per year instead?
Yes — making one extra monthly payment per year achieves almost identical savings as switching to biweekly. Just make sure the extra payment is applied to principal, not to next month's payment. Some lenders offer biweekly programs, but you can replicate it yourself for free.
Do all lenders accept biweekly mortgage payments?
Not automatically. Some lenders hold partial payments until you complete a full monthly payment — meaning the timing benefit disappears. Before switching to biweekly, confirm with your servicer that they apply each half-payment when received and credit it to principal immediately. Alternatively, make one extra lump-sum principal payment per year instead.
When is biweekly payment NOT worth it?
Biweekly payments are less beneficial if you plan to sell within 5 years (too short to accumulate meaningful savings), if your lender charges a fee to set up the program (some charge $200–$400), or if investing the extra money earns more than your mortgage rate. At 3% mortgage rates, investing likely beats prepaying.
See your biweekly savings now.
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