Biweekly Mortgage Calculator
See how switching to biweekly payments saves you thousands in interest and pays off your mortgage years earlier. Compare monthly vs. biweekly side by side. Free, no sign-up required.
The total amount of your mortgage loan.
Your mortgage's annual interest rate (APR).
The original term of your mortgage. Most mortgages are 15 or 30 years.
Additional amount applied to principal each month on top of your regular payment. Enter 0 for no extra.
💲 Interest Savings
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Monthly Payment
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Biweekly Payment
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Monthly Plan
Biweekly Plan
📊 Payoff Timeline Comparison
| Year | Monthly Balance | Biweekly Balance | Difference |
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The biweekly column pays down faster because 26 half-payments = 13 full payments per year, not 12.
💡 What this means
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📚 Learn more about paying off your mortgage faster
📚 See top-rated mortgage & personal finance books on Amazon →📝 How to use this biweekly mortgage calculator
- Enter Loan Amount — the total amount of your mortgage (e.g., $300,000).
- Enter Annual Interest Rate — your mortgage APR as a percentage (e.g., 6.5 for 6.5%).
- Enter Loan Term — the original term of your mortgage, typically 15 or 30 years.
- Optional: Extra Payment — add any extra monthly amount you pay toward principal.
- Click Calculate — see your interest savings, early payoff time, and a side-by-side comparison of monthly vs. biweekly payment plans.
📌 5 tips for biweekly mortgage payments
- ✓ Check for prepayment penalties. Most US mortgages allow extra payments without penalty, but verify with your lender before starting a biweekly plan. FHA, VA, and conventional loans typically have no prepayment penalties.
- ✓ Watch out for biweekly payment fees. Some lenders and third-party services charge setup fees ($300-500) or monthly fees ($4-9) for biweekly programs. You can achieve the same result for free by adding 1/12 of your monthly payment to each payment yourself.
- ✓ Ensure extra goes to principal. Confirm with your lender that extra payments are applied to principal reduction, not held in a suspense account or applied to future interest. This is critical for the savings to materialize.
- ✓ Align with pay schedule. If you're paid biweekly, a biweekly mortgage payment aligns naturally with your income. If you're paid semi-monthly (twice a month), the timing won't match and a biweekly plan may create cash flow strain.
- ✓ Consider alternatives. Making one extra full payment per year, or adding 1/12 of your payment monthly, achieves the same savings as biweekly without needing a special program. The key is consistency: any method that adds one extra payment per year will work.
Disclaimer: This calculator provides estimates for educational purposes only. It assumes a fixed-rate mortgage and constant interest rate. Actual savings may vary based on your loan terms, lender policies, and payment processing. This tool is not financial advice. Consult your lender or a financial advisor for guidance tailored to your situation.
Related Tools
Biweekly payments are one of many mortgage strategies. These seven calculators help you compare payoff methods, affordability, and the full cost of homeownership.
- Mortgage Calculator — calculate your monthly mortgage payment including principal and interest for any loan amount, rate, and term.
- Mortgage Early Payoff — see how extra lump-sum or recurring payments shorten your mortgage term and reduce total interest.
- Mortgage Affordability Calculator — find out how much house you can afford based on your income, debts, and down payment.
- Should I Refinance? — compare your current mortgage against a refinance to see if the interest savings justify the closing costs.
- Home Sale Proceeds Calculator — calculate your net proceeds from selling a home after mortgage payoff, commissions, and closing costs.
- Compound Interest Calculator — understand how mortgage interest compounds and why early principal reduction saves so much over time.
- Loan Payment Calculator — calculate monthly payments on any loan type with a full amortization schedule and interest breakdown.