Biweekly Mortgage Calculator
See how much you save — and how many years you cut — by paying every two weeks
Loan Details
Used to calculate your payoff dates
Your Savings
Monthly vs Biweekly — Full Comparison
Year-by-Year Balance Comparison
See how biweekly payments reduce your balance faster every year.
| Year | Monthly Balance | Biweekly Balance | Difference |
|---|---|---|---|
| Enter loan details to see year-by-year breakdown | |||
How Biweekly Payments Work
- Your current monthly payment is divided by 2 — that becomes your biweekly amount.
- You make this half-payment every two weeks. Since there are 52 weeks in a year, that is 26 payments.
- 26 half-payments = 13 full monthly payments per year. You effectively make 1 extra full payment every year.
- That extra payment goes straight to principal — reducing your balance faster and cutting interest.
- As the balance drops faster, less interest accrues each period, creating a compounding speed-up effect.
DIY Biweekly: You don't need a special lender program. Just add 1/12 of your monthly payment to each monthly payment as extra principal. This equals exactly one extra payment per year — the same result as biweekly, with no fees.
Is Biweekly Right for You?
Biweekly payments work best when:
- You get paid biweekly (every 2 weeks) — payments match your paycheck schedule
- You have a long loan term remaining (30-year loan benefits most)
- Your lender applies payments immediately to principal (not at month-end)
- Your lender offers free biweekly enrollment (avoid fee-based programs)
Skip biweekly if you plan to sell or refinance within 3 years — you won't recoup the interest savings.
Free Alternative to Biweekly Programs
Many lenders charge $200–$400 to enroll in a biweekly program. Do this for free instead: divide your monthly payment by 12 and add that amount to every monthly payment as "extra principal." For a $1,500 monthly payment, that's just $125 extra each month — same savings, zero fees.
Frequently Asked Questions
What is a biweekly mortgage payment?
A biweekly payment means paying half your monthly mortgage every two weeks. With 26 biweekly periods in a year, you make 13 full payments instead of 12 — one extra payment that goes to principal each year.
How much can biweekly payments save me?
On a $300,000 loan at 7% for 30 years, biweekly payments typically save over $60,000 in interest and cut about 5 years off the loan. Use the calculator above to see your exact savings.
What is the difference between biweekly and semi-monthly?
Semi-monthly = twice a month = 24 payments/year (same as monthly, zero savings). Biweekly = every 2 weeks = 26 payments/year. That extra 2 payments per year is what creates the savings. Make sure your lender uses true biweekly, not semi-monthly.
Are there fees for biweekly programs?
Many lenders charge $200–$400 setup plus $6–$10 per payment. These fees can erase years of savings. Instead, make one extra principal payment per year yourself — same result, no fees.
Can I switch to biweekly at any time?
Yes. You can start biweekly-equivalent payments any time during your loan. The earlier you start, the more you save — but even switching mid-loan saves meaningful money.
Does biweekly work on a 15-year mortgage?
Yes, but the savings are smaller because the loan is already short. On a 15-year mortgage, biweekly payments typically save 1–2 years. The biggest gains come from 30-year mortgages.