Biweekly Mortgage Calculator

See how switching to biweekly payments — 26 half-payments a year, the equivalent of 13 monthly payments — shaves years off your loan and saves interest.

Loan Amount

Interest Rate (%)

Loan Term

15 Years20 Years30 Years

With Biweekly Payments You'd Save

$104,708

in interest, and pay off your loan about 5.8 years sooner.

Your Payments

Standard monthly payment	$2,275.44/mo
Biweekly payment (every 2 weeks)	$1,137.72

Standard vs. Biweekly

	Standard	Biweekly
Payoff time	30.0 yrs	24.2 yrs
Total interest paid	$459,160	$354,453
You save		$104,708

Why Biweekly Payments Work

The trick is simple math. A year has 52 weeks, so paying half your mortgage every two weeks means 26 half-payments — which equals 13 full monthly payments instead of 12. That one extra payment a year goes straight to principal, snowballing your interest savings.

✓ You make the equivalent of one extra monthly payment every year — without it feeling like a budget shock.
✓ Every extra dollar of principal reduces the balance interest is charged on, compounding over the life of the loan.
✓ The higher your rate and the longer your term, the more dramatic the savings.

Before You Sign Up

✓ Confirm your servicer applies biweekly payments to principal immediately, not just at month-end.
✓ Avoid third-party programs that charge setup or per-payment fees — you can usually DIY for free.
✓ Prefer flexibility? Just add 1/12 of your payment as extra principal each month for the same result.
✓ Make sure your loan has no prepayment penalty before accelerating payments.

Compare Mortgage Rates →Mortgage Recast Guide →

Thinking bigger picture? A refinance might lower your rate entirely — check the refinance calculator to compare against accelerating payments.

Frequently Asked Questions

How do biweekly mortgage payments save money?

Paying half your monthly amount every two weeks adds up to 26 half-payments a year — the equivalent of 13 monthly payments instead of 12. That extra payment goes entirely to principal, cutting the balance interest accrues on and shortening the loan.

How much sooner will my mortgage be paid off?

On a typical 30-year loan, biweekly payments knock off roughly 4 to 6 years, depending on your rate. The higher the interest rate, the bigger the time and money savings, because more of each early payment was going to interest.

Is biweekly the same as paying extra each month?

Almost. Adding 1/12 of your payment to principal every month produces nearly identical savings and gives you more flexibility to skip the extra in a tight month. Biweekly just automates that discipline so you don't have to think about it.

Are there downsides to biweekly payments?

The main risks are servicer programs that charge fees or hold payments until month-end (defeating the benefit), and locking up cash you might invest at a higher return. Make sure extra payments hit principal right away and that your loan has no prepayment penalty.

Can I set this up myself for free?

Usually, yes. Many servicers let you schedule biweekly drafts at no cost, or you can simply send extra principal each month on your own. Skip paid third-party “equity accelerator” services that charge for something you can do yourself.