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
$2,581/mo
Total Interest Paid
$529,200
Payoff Date
October 2056
Biweekly Payments
$1,291/2wks
Total Interest Paid
$405,026
Payoff Date
October 2050
Biweekly Savings Summary
Years Saved
6.0
72 months
Interest Saved
$124,174
Extra Per Year
$2,581
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.
How the biweekly mortgage calculator works
This tool splits your monthly payment in half and applies it every two weeks. Because a year has 52 weeks, you make 26 half-payments, which equals 13 full monthly payments instead of 12. That one extra payment each year goes straight to principal, so the tool amortizes the loan against this faster schedule to show a shorter term and lower total interest.
On a $400,000 loan at 6.75%, the monthly payment is about $2,594, so each biweekly half is roughly $1,297. Twenty-six halves total about $33,727 a year versus $31,133 on a monthly plan, the difference being one extra payment. That pace clears the loan in about 24 years rather than 30 and saves close to $126,000 in interest over the life of the loan.
Biweekly plans work well for South Florida owners paid every two weeks, since the rhythm matches your income. Confirm your servicer applies each half-payment immediately rather than holding it, and avoid third-party programs that charge setup fees for something you can do yourself. As with any prepayment, keep reserves for hurricane deductibles, insurance, and HOA dues before accelerating the loan.