Biweekly Mortgage Calculator
A biweekly mortgage calculator helps you calculate savings from making biweekly payments instead of monthly payments. Use our free biweekly mortgage calculator to see how making 26 half-payments instead of 12 full payments can save thousands in interest and shorten your loan term. This tool shows the power of extra payments and helps you understand the financial benefits of biweekly payment schedules. Calculate your biweekly mortgage savings instantly to optimize your mortgage payoff strategy.
Free • Interest savings • Faster payoff
How Biweekly Mortgage Savings Work
Biweekly Payment Formula
Biweekly Payment = Monthly Payment ÷ 2
Annual Payments: 26 biweekly payments vs 12 monthly payments
Extra Payment: Equivalent to 13 monthly payments annually
Interest Savings: Reduced principal balance faster = less interest
Payoff Reduction: Typically 6-8 years earlier on 30-year mortgage
Example Biweekly Mortgage Savings
A $200,000 mortgage at 4.5% interest for 30 years has a $1,013 monthly payment. Switching to biweekly $507 payments saves $28,000 in interest and pays off the loan 6 years earlier.
This simple payment strategy can save tens of thousands without changing your lifestyle.
Benefits of Biweekly Mortgage Payments
Frequently Asked Questions
How much can I save with biweekly payments?
Typical savings range from $20,000 to $40,000 on a 30-year mortgage, depending on loan amount and interest rate. Most homeowners save 6-8 years of payments.
Do all lenders offer biweekly payments?
Many lenders offer biweekly programs, but some charge setup fees. You can also make extra principal payments manually to achieve similar results.
Is biweekly better than extra monthly payments?
Both achieve similar results. Biweekly payments are more disciplined and automatic, while extra monthly payments offer more flexibility.
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Calculate Your Biweekly Mortgage Savings
See how much you can save on interest and how fast you can pay off your mortgage with biweekly payments.
Use Biweekly Mortgage Calculator