Payoff
Biweekly Mortgage Calculator
Paying biweekly means 26 half-payments per year — the equivalent of one extra full payment annually. See how much that saves you.
Loan Details
Monthly Payments
$2,661/mo
Total Interest Paid
$558,036
Payoff Date
June 2056
Biweekly Payments
$1,331/2wks
Total Interest Paid
$421,470
Payoff Date
March 2050
Biweekly Savings Summary
Years Saved
6.3
75 months
Interest Saved
$136,566
Extra Per Year
$2,661
1 extra payment/year
Ready to Start?
Talk to a Lender
Ask your lender about setting up a biweekly payment plan — not all servicers offer it automatically.
How It Works
26 payments = 13 months
There are 52 weeks per year. Paying every 2 weeks = 26 payments × half-payment = 13 full payments vs. the normal 12.
Check with your servicer
Some servicers don't apply biweekly payments mid-cycle. Confirm your servicer accepts true biweekly payments.
DIY alternative
Simply add 1/12 of your monthly payment to each check. This achieves the same result without a special program.