Biweekly Mortgage Payment Calculator
Paying half your mortgage every two weeks adds up to one extra full payment a year — cutting years off your loan and thousands in interest. This calculator shows the exact difference.
How this calculator works
On a standard schedule you make 12 payments a year. On a biweekly schedule you pay half the monthly amount every two weeks — 26 half-payments, which equals 13 full payments a year. The extra payment goes entirely to principal, so you pay the loan off years early. The calculator runs both amortization schedules and reports your interest savings and the new payoff date. Watch out for lenders that charge a fee or hold the first payment each year, which can eat into the benefit.
Frequently asked questions
Does a biweekly plan actually save interest?
Yes — but only because you are effectively paying one extra payment a year. The same result comes from simply adding a 13th payment to your regular monthly schedule each year, which is often the cheaper option since bank-run biweekly programs may charge setup fees.
Is biweekly the same as paying extra each month?
The math is identical to making 13 monthly payments a year. What matters is that the extra money goes to principal and that you keep making the payments every year for the life of the loan.
Should I pay down my mortgage or invest instead?
If your mortgage rate is below what you expect to earn in the market, investing often wins on paper. Paying down the mortgage is a guaranteed, risk-free return equal to your rate — many people split the difference. A biweekly plan is also popular with those who prefer forced discipline.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect 2026 rules and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: IRS.gov · 2026 limits per IRS tax inflation adjustments.