Biweekly Mortgage Payment Calculator
See how paying half your mortgage every two weeks shortens the loan and cuts interest, compared with monthly payments.
- Monthly payment
- Monthly plan
- Biweekly plan
- Interest saved
- Time saved
- Monthly + 1/12 extra
- Extra Paid per Year
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How Biweekly Mortgage Payments Work
Paying half your monthly payment every two weeks adds up to 26 half-payments a year: the same as 13 monthly payments instead of 12. That extra payment each year goes to principal and shortens the loan.
Some lenders and payment services collect every two weeks but only apply the money once a month. That works out almost the same as adding 1/12 of a payment to each monthly payment, which the page also shows.
Worked Example
Tips
Watch for third-party biweekly programs that charge setup or per-payment fees; you can get nearly the same result free by adding 1/12 of your payment to each monthly payment as extra principal. Check that your servicer applies the extra money to principal.