Biweekly Mortgage Payment Calculator

How Biweekly Mortgage Payments Work

A traditional mortgage uses monthly payments, where interest accrues once per month. A true biweekly mortgage works differently:

• You make 26 half-payments per year (every 14 days).
• This equals 13 full payments annually, instead of 12.
• Interest accrues every 14 days, not monthly.
• The extra payment automatically goes toward principal.

The result: a shorter loan term and lower total interest paid, even if you don’t add extra principal.

When Does a Biweekly Schedule Make Sense?

You may benefit from biweekly payments if:

• You’re paid every two weeks
• You want to reduce total interest without refinancing
• You want to pay off your mortgage faster
• You prefer smaller, more frequent payments
• Your lender allows true biweekly amortization

If your lender does not support biweekly payments, you can often still replicate the same savings by making one extra monthly payment per year.

What This Calculator Shows

This tool compares:

1. Standard Monthly Mortgage

• Monthly principal & interest
• Total interest over the full term
• Estimated payoff time

2. True Biweekly Mortgage

• Biweekly principal & interest
• Effective monthly cost
• Total interest with biweekly schedule
• Accelerated payoff timeline
• Savings from reduced interest

You can also enter extra biweekly principal to see even more time and interest savings.

Why Biweekly Payments Save Money

Biweekly payments reduce interest for two reasons:

1. More frequent principal reduction

Paying every 14 days reduces your balance sooner, which means less interest accrues.

2. One extra full payment per year

26 half-payments = 13 full monthly payments.

That extra payment reduces principal more aggressively over time.

Combined, these effects can shave years off your mortgage and save tens of thousands in interest.

FAQ: Biweekly Mortgage Payments