Biweekly Mortgage Payment Calculator
Split a mortgage payment in half and pay every two weeks — see the biweekly amount and modeled interest savings versus a monthly schedule. Click any i for detail.
Your mortgage
Principal ($)
i
Principal
Loan balance (or original amount if modeling a new loan). |
|
|---|---|
APR (%)
i
APR
Mortgage rate. |
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Term (years)
i
Term
Amortization term for the standard monthly payment. |
How to use this calculator
- Enter principal, rate, and term.
- Read the biweekly payment (half the monthly P&I).
- Compare modeled interest vs a monthly schedule.
Results explained
The headline is the biweekly payment (half of the calculated monthly P&I). Interest comparison assumes 26 biweekly payments per year.
Quick reference: biweekly effect
Why biweekly can finish earlier.
| Schedule | Payments / year |
|---|---|
| Monthly | 12 × full payment |
| Biweekly | 26 × half payment ≈ 13 full payments |
Your servicer must apply biweekly payments to principal correctly — not all “biweekly” programs are equal.
How the estimate is built
Monthly P&I from standard amortization; biweekly = monthly ÷ 2. Biweekly payoff simulates 26 periods/year at rate/26.
Example scenario
A $350,000 30-year loan at 6.5% has a set monthly P&I; paying half every two weeks can shorten the term and cut interest in this model.
FAQ
Is this the same as one extra payment a year?
Roughly — 26 half-payments ≈ 13 monthly payments.
Fees for biweekly programs?
Third-party biweekly services may charge fees not modeled here.