Mortgages
Biweekly Mortgage Calculator
Pay half your monthly mortgage every two weeks and you make 26 half-payments a year — the equivalent of 13 monthly payments, one extra. That single extra payment shortens your loan and cuts interest. Enter your loan to see exactly how much time and money it saves.
Tested against worked examplesHow we verify
Interest saved: $88,119
Interest saved
$88,119
By paying biweekly instead of monthly over the life of the loan.
- Paid off sooner
- 5 years 11 months
- Biweekly payment
- $948.10
- Standard monthly payment
- $1,896.20
- Total interest (biweekly)
- $294,513
Half your monthly payment, every two weeks.
Versus $382,632 paying monthly.
Compare scenariosTry three values of one input
| Loan balance | |||
|---|---|---|---|
| Interest saved | $79,307 | $88,119+$8,812 | $96,930+$17,624 |
| Biweekly payment | $853.29 | $948.10+$94.81 | $1,042.91+$189.62 |
| Standard monthly payment | $1,706.58 | $1,896.20+$189.62 | $2,085.82+$379.24 |
| Total interest (biweekly) | $265,062 | $294,513+$29,451 | $323,965+$58,903 |
Every other input stays at the value you set above — currently $300,000 for loan balance. Differences are measured against the first column.
Saved scenariosSave this calculation
Saved in this browser only — no account, and nothing is sent to us. Clearing your browser data deletes them.
How this calculator works
The standard payment fully amortizes the loan over its term. The biweekly plan pays half that amount every two weeks (26 payments a year) at the rate divided by 26 per period; we solve for the payoff time and interest, then compare. The difference is your interest saved and time shaved off.
Assumes each biweekly payment is applied when made and the rate is fixed. Results match making one extra monthly payment a year toward principal — the free, lender-agnostic way to get the same effect.
What this assumes
- Half-payments every two weeks produce 26 half-payments a year, which is one extra full payment annually. That extra payment is the entire effect.
- Your servicer applies each half-payment on receipt. Some hold the first half until the second arrives, which removes the benefit entirely.
- No enrolment or servicing fee. Third-party biweekly programmes commonly charge one, and it is deducted from exactly this saving.
What changes this number
- The extra annual payment
- This is the whole mechanism, and you can replicate it for free by paying one-thirteenth extra each month.
- Rate
- The higher the rate, the more an extra payment saves, because each dollar of principal removed avoids more interest.
- Years remaining
- The benefit compounds over time, so switching early is worth far more than switching late.
A worked example
Take the $300k at 6.5%, 30 years scenario. These figures are produced by the calculator above, not written alongside it, so they always match what the tool returns.
What you enter
- Loan balance
- $300,000
- Interest rate
- 6.5%
- Loan term
- 30 years
What it returns
- Interest saved
- $88,119
- Paid off sooner
- 5 years 11 months
- Biweekly payment
- $948.10
- Standard monthly payment
- $1,896.20
- Total interest (biweekly)
- $294,513
Try an example
Frequently asked questions
How do biweekly mortgage payments work?
Instead of one full payment a month (12 a year), you pay half the payment every two weeks. Because there are 52 weeks, that's 26 half-payments — equal to 13 full payments a year, one more than the standard 12. The extra payment goes straight to principal, shrinking the balance faster.
How much can biweekly payments save?
On a typical 30-year mortgage, paying biweekly shaves roughly 4–6 years off the loan and can save tens of thousands in interest, depending on your rate and balance. The higher your rate and balance, the bigger the savings — this calculator shows your exact numbers.
Is a biweekly payment plan worth it?
The savings are real, but you can get the same result for free: just pay an extra 1/12th of your payment toward principal each month, or make one extra payment a year. Avoid third-party 'biweekly programs' that charge setup or transaction fees — you're paying for something you can do yourself.
Will my lender accept biweekly payments?
Not all lenders process true biweekly schedules, and some hold half-payments until a full one accumulates, erasing the benefit. Confirm your servicer applies extra amounts to principal immediately. If not, the simplest reliable method is adding extra principal to your normal monthly payment.
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Disclaimer: DayCents provides this calculator for educational purposes only. Results are estimates based on your inputs and the stated assumptions — they are not financial advice, a quote, or an offer of credit. Consult a qualified financial professional before making major money decisions.