Biweekly Mortgage Calculator
See how paying half your mortgage every two weeks, 26 half-payments a year, pays the loan off years sooner and cuts the interest you pay.
Result
Interest saved
$88,121.78
- Payment every two weeks
- $948.10
- Paid off in
- 24.2years
- Regular monthly payment
- $1,896.20
- Total interest paying monthly
- $382,633.47
- Total interest paying biweekly
- $294,511.68
Common questions
Why do biweekly payments save money?
There are 26 two-week periods in a year, so half-payments add up to 13 full payments instead of 12. The extra payment goes straight to principal.
Can I get the same result without a biweekly plan?
Yes. Paying one-twelfth extra each month, or one extra payment a year, saves about the same. Avoid programs that charge a fee for it.