Paying half your mortgage every two weeks adds one extra payment a year — see how much faster you finish and how much interest you save.
How the Biweekly Mortgage Calculator works
Paying half the monthly amount every two weeks results in 26 half-payments — equal to 13 monthly payments per year. The 13th payment goes entirely to principal, shortening the loan and cutting interest.
Example calculation
On a $350,000 loan at 6.5% for 30 years, biweekly payments can pay it off years early and save tens of thousands in interest versus monthly payments.
Tips for using the Biweekly Mortgage Calculator
- Confirm extra amounts are applied to principal, not held.
- Avoid paid third-party 'biweekly programs' — do it yourself free.
- The same effect comes from paying 1/12 extra each month.
Biweekly Mortgage Calculator — frequently asked questions
- Why does biweekly work?
- 26 half-payments equal 13 monthly payments per year — the extra one goes straight to principal.
- Does my lender allow it?
- Most do, but confirm extra payments apply to principal and avoid third-party fee programs.
- Does every lender allow biweekly payments?
- Most accept extra principal; some don't formally offer biweekly billing — just pay extra monthly instead.
- How much can I save?
- Often several years and tens of thousands in interest on a 30-year loan.
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