Biweekly Mortgage Calculator
See interest and time saved with biweekly payments.
Results update as you type.
How it works
Switching to biweekly mortgage payments is a popular way to pay off a home loan faster, and this calculator shows exactly how much you save. You enter the loan amount, interest rate, and term, and it returns your standard monthly payment, the biweekly payment, and the interest and time you save. The trick is in the calendar: instead of 12 monthly payments a year, you pay half your monthly amount every two weeks, and because there are 52 weeks in a year, that produces 26 half-payments, which equals 13 full monthly payments. That single extra payment each year is applied entirely to principal, so the balance shrinks faster, less interest accrues, and the loan is paid off years early. On a typical 30-year mortgage, biweekly payments can cut several years off the term and save tens of thousands in interest, all without a large change to your budget since each payment is just half the monthly amount. The savings grow with the loan size, rate, and term. Before setting this up, confirm your lender applies biweekly payments to principal immediately rather than holding them, and check for any fees, since some third-party biweekly programs charge for what you can often do yourself by simply paying extra. Enter your loan details to see your biweekly savings.
Biweekly = monthly / 2, paid 26 times a year (13 monthly payments)
Paying half your monthly mortgage payment every two weeks means 26 half-payments a year, equal to 13 full monthly payments instead of 12. That one extra payment each year goes straight to principal, shortening the loan and cutting total interest. The calculator finds the standard payment, the biweekly amount, and the interest and time saved.
Source:Loan amortization
We review all our tools from time to time to ensure accuracy.
Worked example
How to use this calculator
- 1
Enter your values
Enter loan amount, interest rate and loan term.
- 2
Adjust the options
Fine-tune any options to match your situation.
- 3
Read your result
Standard monthly payment updates instantly as you type — no button to press.
Frequently asked questions
How do biweekly mortgage payments save money?
Paying half your monthly payment every two weeks yields 26 half-payments a year, equal to 13 monthly payments instead of 12. That extra payment goes entirely to principal, shrinking the balance faster so less interest accrues and the loan finishes years early, saving substantial total interest over the life of the mortgage.
How much can I save with biweekly payments?
It depends on the loan size, rate, and term, but on a typical 30-year mortgage, biweekly payments often shave several years off the term and save tens of thousands of dollars in interest. Larger loans and higher rates produce bigger savings. The calculator shows the exact interest and time saved for your loan.
Is a biweekly payment just half the monthly payment?
Yes, the biweekly payment is exactly half your standard monthly payment. The savings come not from paying more each time but from the schedule: 26 half-payments per year total 13 full monthly payments, so you make one extra monthly payment annually toward principal without a large change to your budget.
Do I need my lender to set this up?
It helps to confirm your lender accepts biweekly payments and applies them to principal promptly rather than holding them until a full monthly payment accumulates. Some lenders or third parties offer biweekly programs, sometimes with fees. You can often achieve the same result yourself by paying one-twelfth extra each month toward principal.
Are there downsides to biweekly payments?
The main considerations are ensuring payments are applied to principal immediately and avoiding programs that charge setup or service fees for something you can do free. Biweekly payments also commit you to paying more per year, so make sure the accelerated schedule fits your budget and that the money would not earn more elsewhere.