Biweekly Mortgage Payment Calculator
Paying half your mortgage payment every two weeks makes 26 half payments, or 13 full payments, a year. On a $300,000 loan at 6.5% with 30 years left, that ends the loan in 24 years 2 months instead of 30 years and saves $88,122 of interest.
Enter your own loan, with or without an extra monthly amount, then read the comparison table.
Biweekly mortgage payment calculator
Monthly payment: $1,896.20. Biweekly payment: $948.10 every 14 days.
Paying monthly: 30 years, $382,633 of interest.
Paying biweekly: 24 years 2 months, $294,512 of interest.
Biweekly saves $88,122 of interest and finishes 5 years 10 months sooner.
Five ways to pay the same loan
The loan is $300,000 at 6.5% with 30 years left, a monthly payment of $1,896.20.
| Plan | Payment | Paid off in | Interest paid | Interest saved |
|---|---|---|---|---|
| Monthly payments | $1,896.20 monthly | 30 years | $382,633 | $0 |
| Monthly, plus one extra payment a year | $2,054.22 monthly | 24 years 2 months | $295,377 | $87,256 |
| Biweekly | $948.10 every 14 days | 24 years 2 months | $294,512 | $88,122 |
| Monthly, plus $200 extra | $2,096.20 monthly | 23 years 1 month | $279,185 | $103,449 |
| Biweekly, plus $200 extra | $1,048.10 every 14 days | 19 years 5 months | $227,771 | $154,863 |
Do it yourself for free
The CFPB says to check if your servicer charges any fees for a bi-weekly payment plan.
The CFPB says you may be able to accomplish the same goal without the fee by making an extra monthly mortgage payment each year.
The table shows why: the row with one extra payment a year lands within a few months of the biweekly row. To see what a lump sum does to the payment instead, read recast vs extra principal payment, and for monthly extras on their own the extra payments mortgage payoff calculator.
Frequently asked questions
Why does biweekly pay off faster?
There are 26 biweekly periods in a year, so 26 half payments add up to 13 full monthly payments instead of 12. The extra month of payment goes to principal and, because the payments also arrive more often, interest is charged on a smaller balance.
Is biweekly better than one extra payment a year?
On the example loan they are almost the same: 24 years 2 months for biweekly against 24 years 2 months for a 13th payment spread over the year, with $865 between them in interest. The difference is that the monthly version needs no special plan from your servicer.
How are extra payments handled in the biweekly calculator?
The extra monthly amount is added to the monthly payment, and half of the total is paid every 14 days. With $200 extra a month the example loan ends in 19 years 5 months, against 23 years 1 month paying the same total monthly.
Will my servicer accept biweekly payments?
Some do and some do not. A payment that arrives early and sits until the monthly due date, or that is not applied to principal, saves almost nothing, so ask when each payment is applied.
Does this calculator match my servicer's plan?
It assumes each half payment is applied to the loan on the day it is received, with interest charged at the rate divided by 26. A plan that holds the money until the monthly date will save less.
Sources
Every figure on this page comes from the pages below. Checked 2026-11-06. Rules change, so confirm with your own servicer.
- CFPB: Mortgage answers, key terms (bi-weekly payments) (the fee check and the fee-free extra monthly payment)
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