Biweekly Mortgage Calculator
See how paying your mortgage every two weeks instead of monthly shortens the loan and saves interest. Enter your loan amount, rate, and term.
| Monthly plan | Biweekly plan | |
|---|---|---|
| Payment | $2,022.62 / mo | $1,011.31 / 2 wks |
| Payoff time | 30 yrs | 24 yrs 2 mos |
| Total interest | $408,141 | $314,145 |
Paying half your monthly payment every two weeks makes 26 half-payments a year — the equivalent of 13 monthly payments, or one extra per year — which shortens the loan and cuts interest. Confirm your lender applies biweekly payments without fees.
How to use this calculator
Enter your loan amount, interest rate, and term. The calculator compares a standard monthly schedule with a biweekly one and shows the biweekly payment, interest saved, and years shaved off.
Why biweekly payments save money
Twenty-six half-payments equal 13 full monthly payments a year — one extra. That extra payment reduces principal directly, so less interest accrues for the rest of the loan. The effect compounds over decades, which is why the savings are large on long mortgages. For the full payment breakdown, see our mortgage amortization calculator.
Worked example
A $320,000 loan at 6.5% over 30 years paid biweekly typically pays off around 5 years early and saves well over $70,000 in interest versus monthly.
Estimates only. Confirm your lender applies biweekly payments to principal without extra fees.
Frequently asked questions
How do biweekly mortgage payments work?
Instead of one monthly payment, you pay half that amount every two weeks. Because there are 52 weeks in a year, that's 26 half-payments — equal to 13 monthly payments, so you make one extra payment per year without really feeling it.
How much can biweekly payments save?
On a typical 30-year mortgage, biweekly payments often cut about four to six years off the loan and save tens of thousands in interest, because the extra annual payment goes straight to principal. Enter your numbers to see your figures.
Is biweekly the same as twice a month?
No. Biweekly is every two weeks (26 payments a year); semi-monthly is twice a month (24 payments). Only the biweekly schedule produces the extra annual payment that accelerates payoff.
Are there downsides?
Some lenders charge fees to set up biweekly plans or hold payments until a full monthly amount accumulates. You can often get the same benefit for free by paying 1/12 extra principal each month yourself.