Biweekly Mortgage Calculator
See how paying half your mortgage every 2 weeks shaves years off your loan.
Your numbers
Breakdown
Remaining balance by year
How this calculator works
A biweekly mortgage plan is a quiet trick: instead of one monthly payment, you pay half that amount every two weeks. Because there are 26 biweekly periods in a year, you make the equivalent of 13 monthly payments instead of 12 — that one extra payment goes straight to principal, and every extra principal dollar kills all the future interest it would have accrued. This calculator simulates both schedules payment by payment: the standard monthly amortization and the biweekly version, then shows the difference in payoff time and total interest.
On a typical $400,000 loan at 6.5%, biweekly payments erase roughly six years and over $100,000 in interest — with no change to your monthly budget rhythm, since half-payments align with biweekly paychecks. Two caveats before you celebrate: confirm your lender applies the extra amount to principal (some hold it in suspense or charge a setup fee for biweekly programs — you can replicate the effect free by adding 1/12 of your payment to each monthly payment yourself), and make sure there is no prepayment penalty. If your lender resists, the DIY extra-principal route produces nearly identical savings.