Biweekly Mortgage Calculator
See how much time and interest you save by paying half your mortgage payment every 2 weeks (26 half-payments/year = 13 monthly equivalents).
FINANCECalculate how much interest and time you save by paying half your mortgage payment every 2 weeks. 26 biweekly halves per year = 13 monthly payments — one extra payment annually.
True biweekly: each half is credited immediately, saving interest on the first half for 2 weeks. Many lender "biweekly" programs just hold halves and forward as one monthly + one extra annually — same end result but no within-month savings. You can get the same effect for free by setting up "1/12 extra to principal" on your monthly autopay.
Biweekly Mortgage Calculator
Paying half your monthly mortgage payment every 2 weeks results in 26 half-payments per year - the equivalent of 13 monthly payments, or one extra payment annually. See how many years and how much interest this shaves off a 30-year mortgage.
Real vs Fake Biweekly Programs
A true biweekly program credits each half-payment immediately, saving interest on the first half for 2 weeks before the second half arrives. A more common "biweekly" service offered by lenders or third parties just holds your half-payments and then forwards a single monthly payment plus an extra principal payment annually - this still saves interest, but slightly less than a true biweekly.
You can get the same effect for free by setting up your own "1/12 extra to principal" with your monthly payment. Many lenders allow this through their online portal under "additional principal". Confirm with your servicer that extra payments go straight to principal (not the next month's scheduled payment) and that there's no prepayment penalty.
Estimates assume the lender applies each biweekly payment immediately. Some servicers process biweekly enrollment fees of $200-400 and may not credit payments until a full monthly equivalent has accumulated - read the fine print before signing up for a third-party biweekly program.