Biweekly Mortgage Calculator
Switch to biweekly payments and make one extra month's payment per year automatically — saving thousands in interest.
| Payment Plan | Payment Amount | Annual Total | Total Interest | Payoff Time |
|---|---|---|---|---|
| Monthly | $1,946/mo | $23,350 | $400,486 | 30 years |
| Biweekly | $973/2wks | $25,295 | $304,933 | 25 yr 11 mo |
How to Use This Biweekly Mortgage Calculator
Enter your Loan Amount, Interest Rate, and Loan Term. The calculator instantly shows your biweekly payment (half your monthly payment), how many years early you'll pay off the mortgage, and total interest saved compared to monthly payments.
The comparison table below the results shows both scenarios side by side so you can see the exact dollar difference in total interest paid and payoff time.
Why Biweekly Payments Work
Biweekly payments: 26 per year
26 half-payments = 13 full monthly payments
(vs. 12 with monthly schedule)
Extra payments per year = 1 full monthly payment
This extra payment goes entirely to principal.
The math is straightforward: a year has 52 weeks, which means 26 biweekly periods — not 24. You make one extra full payment per year. On a $300,000 loan at 6.75%, that one extra payment per year saves approximately $57,000 in interest and cuts 4–5 years off the loan.
Example: $300,000 Mortgage at 6.75%, 30 Years
Monthly vs. Biweekly Comparison
| Monthly Payment | $1,946/month |
| Biweekly Payment | $973/every 2 weeks |
| Annual Cost (monthly) | $23,352 |
| Annual Cost (biweekly) | $25,298 |
| Extra Per Year | $1,946 |
| Total Interest (monthly) | ~$400,000 |
| Total Interest (biweekly) | ~$343,000 |
| Interest Saved | ~$57,000 |
| Years Saved | ~4.5 years |