Calculator
Biweekly Mortgage Calculator
See how switching to biweekly payments can save you money.
Loan Details
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Biweekly payments = 26 half-payments/year = 13 full payments/year. That's one extra monthly payment annually!
You'll Save
0 yearsoff your loan
-$380,792in interest
Monthly vs Biweekly
Monthly Payments
$1,896
Annual Total$22,754
Total Interest$382,633
Payoff DateJul 2056
Biweekly Payments
$948
Annual Total$24,651
Total Interest$763,426
Payoff DateJul 2056
Extra $1,896/year
By switching to biweekly, you pay an extra $0 every two weeks — that's $1,896 extra per year!
How Biweekly Payments Work
With biweekly payments, you make half your monthly payment every two weeks. Since there are 52 weeks in a year, this equals 26 half-payments — or 13 full monthly payments per year.
That extra monthly payment each year goes directly to principal, helping you pay off your loan faster and save thousands in interest.
Benefits of Biweekly Payments
- Automatic Savings: No need to remember to make extra payments — it's built in.
- Faster Payoff: Typical savings of 4-6 years on a 30-year loan.
- Interest Savings: Save thousands in interest over the life of the loan.
- Manageable: Many lenders offer biweekly options at no extra cost.