Biweekly Mortgage Payment Calculator
See your biweekly mortgage payment and how paying every two weeks — 26 half-payments a year — shaves years of interest off a 30-year loan.
How it works
Monthly = P·r ÷ (1 − (1+r)^−n), r = APR÷12 · Biweekly payment = monthly ÷ 2, paid 26×/yr · 26 half-payments = 13 full monthly payments = 1 extra payment/yr
A biweekly schedule pays half your monthly amount every two weeks. Because a year has 26 two-week periods, you make 26 half-payments — the equivalent of 13 monthly payments instead of 12. That one extra payment each year goes straight to principal, so the balance falls faster and the loan pays off years early on a 30-year term.
Worked example
On a $300,000 loan at 6.5% for 30 years the monthly payment is about $1,896, so the biweekly payment is about $948. Paying $948 every two weeks retires the loan in roughly 25 years instead of 30 and saves around $80,000 in interest versus the standard monthly schedule.
Frequently asked questions
Why does biweekly save so much interest?
26 biweekly half-payments equal 13 full monthly payments a year — one more than the 12 a standard schedule collects. That extra payment attacks principal directly, and less principal means less interest compounding for the rest of the loan.
Is this the same as just paying half twice a month?
No. Twice a month is 24 payments a year (12 full payments) and saves nothing. The saving comes specifically from paying every two weeks, which produces 26 payments and one extra full payment each year.
Does my lender have to allow biweekly payments?
Not always. Some servicers accept a true biweekly plan; others hold half-payments and apply them monthly, which removes the benefit. You can get the same result by paying your normal monthly amount plus 1/12 extra toward principal each month.
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Educational estimate only — not financial, tax or lending advice. Confirm exact figures with your lender.