Biweekly Mortgage Calculator

The leverage is in timing and target. Twenty-six half-payments equal thirteen monthly payments, so you make one extra payment a year, and that whole payment hits principal.

Cutting the balance early stops interest from accruing on it for every remaining month, and on a 30-year loan that compounding effect removes years and tens of thousands in interest.

Usually set it up yourself. The acceleration comes from one extra payment a year, which you can achieve free by adding one-twelfth of your payment to each monthly check, earmarked for principal.

Paid biweekly programs charge enrollment or transaction fees for the same result. Only use the lender's program if it's genuinely free and applies halves promptly.

Often, and that's part of the appeal. If you're paid every two weeks, biweekly mortgage payments sync naturally with your paychecks, and two months a year you'll have three pay periods to cover two half-payments.

That rhythm makes the extra annual payment feel painless rather than like a budget event you have to plan around.

No. Every calculation runs entirely in your browser. We never store, transmit or sell the numbers you enter.

Two things. First, whether the program forwards each half-payment right away or holds it and sends one full payment a month — if it holds it, you get no early-principal benefit at all.

Second, how your servicer treats a half-payment: many park it in a suspense account until the second half arrives. Paying one-twelfth extra toward principal each month gets the same result for free.

You pay half your monthly payment every two weeks, which comes to 26 half-payments a year — the equivalent of 13 monthly payments instead of 12. That one extra payment goes to principal, shortening the loan and cutting total interest.

On a typical 30-year loan, a biweekly schedule can shave roughly four to six years off the term and save tens of thousands in interest, depending on your rate and balance. The calculator above shows your exact savings and payoff date.