Biweekly Mortgage Calculator
See how paying half your mortgage every two weeks (26 payments = one extra payment a year) cuts your term and interest. Runs in your browser.
Biweekly vs monthly
- Monthly payment
- $1,896
- Biweekly payment (½)
- $948
- Payments per year
- 26 (= 13 monthly)
- Payoff (monthly)
- 30 yr 0 mo
- Payoff (biweekly)
- 24 yr 2 mo
- Time saved
- 5 yr 10 mo
- Interest saved
- $87,256
Paying half your monthly amount every two weeks means 26 half-payments a year = 13 full payments — one extra payment annually, applied to principal. That single extra payment per year is what cuts the term and interest. You can replicate it for free by paying 1/12 extra each month; beware third-party "biweekly programs" that charge fees for what you can do yourself. Informational, not financial advice.
About this tool
A biweekly mortgage schedule means paying half your monthly payment every two weeks instead of one full payment monthly. Because there are 52 weeks in a year, that produces 26 half-payments — equivalent to 13 full monthly payments rather than 12, so you make one extra full payment each year, applied entirely to principal. This calculator amortizes the loan both ways and shows the result: the new payoff date, the time saved, and the interest saved, which on a typical 30-year mortgage can be several years and tens of thousands of dollars. The important truth it makes clear is that the magic is simply that one extra annual payment — there is nothing special about the biweekly cadence itself. You can get the identical benefit for free by adding 1/12 of your payment to each monthly bill, or by making one extra payment a year. That matters because some lenders and third-party services charge enrollment or per-payment fees for 'biweekly programs' that deliver only what you could do yourself at no cost. It is informational, not financial advice. Everything runs in your browser.
How to use it
- Enter your loan balance, rate, and term.
- See the biweekly half-payment and that it equals 13 monthly payments a year.
- Read the time and interest saved versus monthly payments.
- Replicate it free by adding 1/12 extra monthly — avoid paid biweekly programs.
Frequently asked questions
- How does biweekly payment save money?
- Paying half your monthly amount every two weeks yields 26 half-payments a year = 13 full payments instead of 12. That one extra payment goes to principal annually, reducing the balance and all future interest, which shortens the loan.
- Why is it 13 payments, not 12?
- There are 52 weeks in a year, so 26 biweekly payments. Twenty-six halves equal thirteen wholes — one more than the twelve you would make paying monthly. That thirteenth payment is the entire benefit.
- Can I get the same benefit without a biweekly plan?
- Yes, for free. Add 1/12 of your monthly payment to each month's bill (as extra principal), or make one extra full payment once a year. The effect is essentially identical to a biweekly schedule with no fees and no enrollment.
- Should I pay a service to set up biweekly payments?
- Usually not. Many third-party "biweekly programs" charge setup or per-transaction fees for something you can do yourself by paying extra principal. If your lender offers true biweekly at no cost, fine — otherwise just self-direct the extra payment.
- Does my lender accept biweekly payments?
- Not all do, and some hold half-payments until a full one accumulates (negating the benefit). Confirm your servicer applies payments as received to principal; if not, the equivalent extra-monthly-principal approach is more reliable.
- Is this financial advice?
- No. It is an informational calculation. Weigh it against other uses of the money.