Bi-Weekly Mortgage Payment Calculator

Instead of 12 monthly payments, you make 26 half-payments — equivalent to one extra full payment per year. See how much interest you save.

Loan Amount

Interest Rate

Loan Term

Total Interest Saved

—

By making bi-weekly payments

Bi-Weekly Payment

—

Standard Monthly

—

Extra Paid Per Year

—

Time Saved

—

New Payoff Time

—

Note: The bi-weekly savings come from making one extra payment per year, not from the payment frequency itself. You can achieve the same result by adding 1/12 of your payment to each monthly payment.

How Bi-Weekly Payments Work

With a standard mortgage, you make 12 payments per year. With bi-weekly payments, you make a payment every two weeks — that's 26 half-payments, or 13 full payments per year. The extra payment goes entirely to principal, shortening your loan by years.

Monthly: 12 × $2,000 = $24,000/year
Bi-Weekly: 26 × $1,000 = $26,000/year
Extra principal paid: $2,000/year

How to Set Up Bi-Weekly Payments

Ask your servicer — many offer a free bi-weekly program. Or simply divide your monthly payment by 12 and add that amount to each payment as extra principal. Some servicers charge a fee for bi-weekly programs; the DIY method is always free.

Warning: Some bi-weekly programs collect payments but only remit to the lender monthly. This earns no interest savings. Only programs that apply payments immediately reduce your principal faster.

Do I need to set up bi-weekly payments with my lender? +

No. You can achieve the same savings by making one extra full payment per year — either as a lump sum in January or by adding 1/12 of your payment to each monthly payment. Just make sure your extra payment is applied to principal, not future payments.

Bi-Weekly Mortgage Payment Calculator