Free Bi-Weekly Mortgage Calculator

Bi-Weekly Mortgage Calculator

Discover how making half your mortgage payment every two weeks — instead of one full payment monthly — can save tens of thousands in interest and shave years off your mortgage. No extra money needed.

26/yr
Bi-weekly payments
vs 12 monthly — 1 extra/yr
$53K+
Interest saved (example)
$350K loan at 6.75%

Bi-Weekly Mortgage Calculator

Mortgage Details

Loan Amount
$
Interest Rate avg: 6.75%
%
Loan Term

How Bi-Weekly Works

Monthly payments
12 / year
Bi-weekly payments
26 / year
26 × half-payment = 13 full payments per year (1 extra). That one extra payment per year is the secret.
Extra per Bi-Weekly Payment optional
$
12/yr26/yr

Enter your mortgage details to see how much bi-weekly payments save

Bi-Weekly Savings by Loan Amount & Rate

All based on a 30-year term. Savings scale with loan size — the same fraction of your balance is saved regardless of amount:

Loan AmountRateInterest SavedYears Saved
$200,0006.75%$30,4004 yr 5 mo
$300,0006.75%$45,6004 yr 5 mo
$350,0006.75%$53,2004 yr 5 mo
$500,0006.75%$76,0004 yr 5 mo
$350,0005.00%$35,7004 yr 2 mo
$350,0008.00%$68,4004 yr 8 mo

All examples: 30-year fixed mortgage, bi-weekly half-payment schedule from month 1.

3 Free Alternatives to Bi-Weekly Payments

1
Add 1/12 Extra Each Month

Divide your monthly payment by 12 and add that amount as extra principal each month. Mathematically identical to bi-weekly. Example: $2,279/mo ÷ 12 = $190 extra → total $2,469/mo.

Easiest — one payment
2
One Extra Payment Per Year

Make 13 monthly payments instead of 12. Apply the extra payment entirely to principal. Works well if you receive a tax refund, bonus, or other annual windfall.

Good — if you have discipline
3
True Bi-Weekly (Confirm Servicer)

Pay half your mortgage every two weeks. Must confirm your servicer applies payments immediately. Many only process once monthly — wasting the benefit.

Best if servicer supports it

The Math Behind Bi-Weekly Payments

There are 52 weeks in a year — giving you 26 bi-weekly periods, not 24 (which would be identical to monthly). Paying every two weeks means:

  • 26 × half-payment = 13 full monthly payments. That's exactly one extra month's worth of principal per year — but spread evenly, which reduces your average daily balance and thus interest charges throughout the year.
  • Lower average daily balance. Because you're making a payment every two weeks, your balance decreases sooner than with monthly payments. Interest accrues on a lower balance for more days each month.
  • The effect compounds over time. Early principal paydowns have a multiplier effect — every dollar paid in year 1 saves its full interest cost over the remaining 29 years.
  • Skip third-party bi-weekly programs. Companies charging $300–$500 to manage bi-weekly payments are unnecessary. The 1/12 extra monthly method (Option 1 above) is free and equally effective.
FAQ

Bi-Weekly Payments — Common Questions

How do bi-weekly mortgage payments work?
Simple math: there are 52 weeks per year, so 26 bi-weekly periods. If you pay half your monthly payment every two weeks: 26 × (payment ÷ 2) = 13 full monthly payments per year instead of 12. That one extra payment goes entirely to principal, cutting years off your mortgage. You're not paying more per week — you're just restructuring how you pay, taking advantage of the calendar.
How much do bi-weekly payments actually save?
Savings depend on loan size and rate. On a $350,000 / 30-yr / 6.75% mortgage: bi-weekly pays it off in ~25.5 years instead of 30 — saving ~4.5 years and ~$53,000 in interest. On a $500,000 / 6.75% mortgage: saves ~$75,000 and about the same time. The higher the rate and the larger the loan, the more dramatic the savings.
Does my servicer need to support bi-weekly payments?
Yes — and this is critical. Some servicers will hold your bi-weekly payment until the full monthly amount accumulates and process it once per month. That eliminates all the benefit. Before setting this up, call your servicer and ask explicitly: 'Do you apply bi-weekly payments immediately to my principal?' If not, you have two equally effective alternatives: (1) Make one extra full monthly payment per year — apply it directly to principal. (2) Add 1/12 of your monthly payment to each monthly payment as extra principal.
Is a bi-weekly payment program from a third party worth it?
Almost never. Many companies charge $200–$500+ setup fees plus monthly fees to manage bi-weekly payments for you. They collect your bi-weekly payment, hold it, and forward a monthly payment + one extra per year to your servicer. You can achieve identical results for free by: (1) Dividing your monthly payment by 12 and adding that amount to each monthly payment as additional principal, or (2) making one extra full payment per year. Skip the third-party programs.
Can I switch to bi-weekly payments mid-loan?
Yes. The savings are proportional to how much of your loan remains. Starting bi-weekly payments on year 5 of a 30-year mortgage still saves significant interest on the remaining 25 years. Earlier is better, but starting any time beats never starting.
What is the equivalent of bi-weekly payments on a monthly schedule?
Paying an extra 1/12 of your monthly payment each month produces mathematically identical results to bi-weekly payments. Example: monthly payment = $2,279. Add $190/month (2,279 ÷ 12) as extra principal. Over 12 months: $190 × 12 = $2,279 — one extra monthly payment. Many borrowers find this simpler to manage than bi-weekly payments.

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