Biweekly Payment Calculator
Half your mortgage payment every two weeks adds up to 13 full payments a year instead of 12. See exactly what that extra payment does to your payoff date and lifetime interest.
Monthly vs. biweekly
Example: $200,000 at 6% over 30 years → debt-free 5 yr 6 mo sooner, saving $49,624.
One extra payment, five and a half fewer years
On the worked $200,000 loan at 6% over 30 years, the monthly schedule costs $1,199.10 a month and $231,676 of lifetime interest. Switch to $599.55 every two weeks and the loan retires in 24 yr 6 mo — 5 yr 6 mo early — with $49,624 of interest saved. Nothing exotic happened: the calendar quietly contributed a 13th payment each year, and every extra dollar attacked principal that would otherwise have compounded against you. Every figure is computed by the same tested engine as the calculator above.
The do-it-yourself version
If your servicer charges for a biweekly program — or posts biweekly halves monthly anyway — replicate the effect for free: divide your payment by twelve and add that amount to each month's payment marked "apply to principal," or make one full extra payment whenever it suits your cash flow. The Mortgage Payoff Calculator models any extra-payment amount directly.
Frequently asked questions
Why does paying biweekly pay the loan off early?
A year holds 26 two-week periods, so half-payments every two weeks add up to 13 full payments instead of 12 — a whole extra payment a year, applied straight to principal. The magic is not the frequency; it is the extra payment the calendar smuggles in.
Is this the same as my servicer’s "biweekly program"?
Not always. Some servicers collect half-payments biweekly but still post them monthly — replicating the schedule without all of the acceleration — and some charge enrollment fees for the privilege. The same result is available free: pay one extra full payment a year, or one-twelfth extra each month, marked "apply to principal."
Does the timing of interest matter?
Slightly. This calculator models true biweekly crediting (interest accrued per two-week period), the schedule’s best case. If your servicer posts monthly, your savings land a little below the figure shown — the dominant effect, the 13th payment, is identical either way.
Should I accelerate my mortgage at all?
Prepaying earns you exactly your mortgage rate, guaranteed. Whether that beats investing the same cash, paying higher-rate debt, or topping up retirement accounts depends on your rates and goals — the calculator quantifies the mortgage side so you can compare honestly.
Not financial advice: a general educational estimate assuming true biweekly interest crediting — servicers that post monthly yield slightly smaller savings. Confirm how your servicer applies extra amounts. Values are processed locally in your browser and never transmitted. See the methodology page.