Biweekly Mortgage Payment Calculator
See how switching from monthly to biweekly mortgage payments can save you thousands in interest and shave years off your loan. Biweekly payments mean 26 half-payments per year — the equivalent of 13 monthly payments instead of 12.
Biweekly Calculator Inputs
Enter Loan Details
Your Biweekly Savings
Interest Saved
- Total interest saved with biweekly payments
- $84,396
Time Saved
- Years and months saved with biweekly payments
- 3 yrs 11 mo
Biweekly Payment
- Biweekly payment amount
- $884.90 /2 wks
- Monthly Payment
- $1,769.79
- Biweekly Payment
- $884.90
- Extra Annual Cost
- $1,769.92
- Loan Amount
- $280,000.00
Monthly vs Biweekly Comparison
| Monthly | Biweekly | Savings | |
|---|---|---|---|
| Payment Amount | $1,769.79/mo | $884.90/2 wks | — |
| Annual Payments | $21,237.48 | $23,007.40 | +$1,769.92/yr |
| Payoff Time | 30 years | 26 yr 1 mo | 3 yr 11 mo saved |
| Total Interest | $357,124.40 | $272,728.85 | $84,395.55 |
| Total Cost | $637,124.40 | $552,728.85 | $84,395.55 |
Amortization Comparison
| Year | Monthly Schedule | Biweekly Schedule | ||
|---|---|---|---|---|
| Interest | Balance | Interest | Balance | |
| 1 | $18,107.88 | $276,870.40 | $16,623.02 | $275,385.42 |
| 2 | $17,898.26 | $273,531.18 | $16,338.86 | $270,486.68 |
| 3 | $17,674.62 | $269,968.32 | $16,037.18 | $265,286.26 |
| 4 | $17,436.01 | $266,166.85 | $15,716.89 | $259,765.55 |
| 5 | $17,181.42 | $262,110.79 | $15,376.95 | $253,904.90 |
| 6 | $16,909.79 | $257,783.10 | $15,016.03 | $247,683.33 |
| 7 | $16,619.95 | $253,165.57 | $14,632.90 | $241,078.63 |
| 8 | $16,310.71 | $248,238.80 | $14,226.14 | $234,067.17 |
| 9 | $15,980.76 | $242,982.08 | $13,794.38 | $226,623.95 |
| 10 | $15,628.69 | $237,373.29 | $13,335.97 | $218,722.32 |
| 11 | $15,253.07 | $231,388.88 | $12,849.40 | $210,334.12 |
| 12 | $14,852.29 | $225,003.69 | $12,332.81 | $201,429.33 |
| 13 | $14,424.63 | $218,190.84 | $11,784.41 | $191,976.14 |
| 14 | $13,968.37 | $210,921.73 | $11,202.27 | $181,940.81 |
| 15 | $13,481.55 | $203,165.80 | $10,584.26 | $171,287.47 |
| 16 | $12,962.13 | $194,890.45 | $9,928.19 | $159,978.06 |
| 17 | $12,407.92 | $186,060.89 | $9,231.71 | $147,972.17 |
| 18 | $11,816.59 | $176,640.00 | $8,492.37 | $135,226.94 |
| 19 | $11,185.66 | $166,588.18 | $7,707.51 | $121,696.85 |
| 20 | $10,512.43 | $155,863.13 | $6,874.28 | $107,333.53 |
| 21 | $9,794.18 | $144,419.83 | $5,989.75 | $92,085.68 |
| 22 | $9,027.80 | $132,210.15 | $5,050.70 | $75,898.78 |
| 23 | $8,210.08 | $119,182.75 | $4,053.87 | $58,715.05 |
| 24 | $7,337.62 | $105,282.89 | $2,995.69 | $40,473.14 |
| 25 | $6,406.71 | $90,452.12 | $1,872.26 | $21,107.80 |
| 26 | $5,413.50 | $74,628.14 | $679.68 | $549.88 |
| 27 | $4,353.73 | $57,744.39 | $1.37 | $0.00 |
| 28 | $3,222.99 | $39,729.90 | Paid off | $0.00 |
| 29 | $2,016.51 | $20,508.93 | Paid off | $0.00 |
| 30 | $729.27 | $0.00 | Paid off | $0.00 |
How Biweekly Mortgage Payments Work
A biweekly mortgage payment plan splits your monthly payment in half and pays it every two weeks. Because there are 52 weeks in a year, you make 26 half-payments, which equals 13 full monthly payments instead of the standard 12.
That one extra payment per year goes entirely toward reducing your principal balance. Over time, this accelerates your equity buildup, reduces total interest, and shortens your loan term — all without significantly increasing your out-of-pocket cost per paycheck.
The Math Behind Biweekly Savings
Monthly payment: $1,769.79 x 12 = $21,237.48/year
Biweekly payment: $884.90 x 26 = $23,007.40/year
Extra amount per year: $1,769.92 (just $147.49/month equivalent)
This modest extra payment compounds over time because each additional dollar of principal reduction means less interest accrues on every subsequent payment. For this loan, it saves $84,396 in interest.
How to Set Up Biweekly Payments
Through Your Lender
- Ask if they offer a formal biweekly plan
- Check for any setup or service fees
- Ensure payments are applied immediately, not held
- Confirm payments reduce principal, not just prepay
DIY Approach
- Divide monthly payment by 12: $147.48
- Add that amount to each monthly payment
- Mark extra as "apply to principal"
- No fees — same result as formal biweekly
Frequently Asked Questions
Is there a downside to biweekly mortgage payments?
The main consideration is budgeting — you need to ensure your cash flow can handle payments every two weeks, including months with three payment dates. Some lenders also charge fees for formal biweekly programs, which can eat into your savings. The DIY approach (adding 1/12 of your payment monthly) avoids these fees entirely.
Do biweekly payments hurt my credit score?
No. Biweekly payments can actually help your credit score by reducing your debt faster and maintaining a consistently on-time payment history. The key is ensuring your lender properly processes biweekly payments so they are credited correctly.
Can I switch back to monthly payments?
Yes. If you are enrolled in a formal biweekly program, contact your lender to switch back to monthly payments. If you are using the DIY approach, simply stop making the extra principal payments. Any principal you have already paid down is permanent — you will not lose those savings.
Is biweekly better than making one extra payment per year?
True biweekly payments are slightly better because principal is reduced more frequently throughout the year, so less interest accrues between payments. However, the difference is small. Both strategies achieve the core benefit: making the equivalent of 13 monthly payments per year instead of 12.
How accurate is this biweekly calculator?
The monthly payment calculation uses the standard amortization formula and is accurate to the cent. The biweekly simulation models payments every 14 days with daily interest accrual. Actual savings may vary slightly depending on your lender's specific processing methods and when payments are credited.