№ 006 · Mortgage cluster
Biweekly Mortgage Calculator
Pay half your mortgage every two weeks instead of the whole thing once a month, and you make 26 half-payments a year — one extra payment, almost without noticing. This calculator shows how many years that quietly knocks off your loan and how much interest it saves.
Biweekly payment · time saved · interest saved
Prefer to pick your own extra amount? See the Loan Payoff Calculator. Want a lower payment instead of a shorter term? See the Mortgage Recast Calculator.
Your mortgage01
$
%
Interest saved with biweekly
$74,436.02
Paid off 5 yr 6 mo early$899.33 every 2 weeks
Monthly payments
Payment$1,798.65/mo
Paid off in 30 years
$347,514.57 total interest
$347,514.57 total interest
Biweekly paymentsFaster
Payment$899.33 / 2 wks
Paid off in 24 yr 6 mo
$273,078.55 total interest
$273,078.55 total interest
Time saved5 yr 6 mo
Interest saved$74,436.02
Extra per year$1,798.65
- Monthly
- Biweekly
| Start | Monthly $300,000.00, Biweekly $300,000.00 |
|---|---|
| Year 2.9 | Monthly $288,607.82, Biweekly $282,824.20 |
| Year 5.9 | Monthly $274,619.41, Biweekly $261,771.43 |
| Year 9.0 | Monthly $257,370.50, Biweekly $235,864.31 |
| Year 12.0 | Monthly $237,238.32, Biweekly $205,561.88 |
| Year 15.1 | Monthly $212,413.61, Biweekly $168,272.33 |
| Year 18.1 | Monthly $183,439.29, Biweekly $124,656.38 |
| Year 21.1 | Monthly $148,766.28, Biweekly $72,449.42 |
| Year 24.2 | Monthly $106,011.48, Biweekly $8,204.61 |
| Year 27.2 | Monthly $56,109.92, Biweekly $0.00 |
| Year 30.0 | Monthly $0.00, Biweekly $0.00 |
Remaining balance · by year
| Year | Monthly balance | Biweekly balance | Lower by |
|---|---|---|---|
| 1 | $296,315.96 | $294,459.36 | $1,856.60 |
| 2 | $292,404.71 | $288,576.51 | $3,828.20 |
| 3 | $288,252.21 | $282,330.33 | $5,921.88 |
| 4 | $283,843.60 | $275,698.35 | $8,145.25 |
| 5 | $279,163.07 | $268,656.77 | $10,506.30 |
| 6 | $274,193.86 | $261,180.27 | $13,013.59 |
| 7 | $268,918.16 | $253,242.00 | $15,676.16 |
| 8 | $263,317.06 | $244,813.44 | $18,503.62 |
| 9 | $257,370.50 | $235,864.31 | $21,506.19 |
| 10 | $251,057.17 | $226,362.45 | $24,694.72 |
| 11 | $244,354.45 | $216,273.72 | $28,080.73 |
| 12 | $237,238.32 | $205,561.88 | $31,676.44 |
| 13 | $229,683.28 | $194,188.45 | $35,494.83 |
| 14 | $221,662.27 | $182,112.56 | $39,549.71 |
| 15 | $213,146.53 | $169,290.82 | $43,855.71 |
| 16 | $204,105.57 | $155,677.17 | $48,428.40 |
| 17 | $194,506.97 | $141,222.70 | $53,284.27 |
| 18 | $184,316.36 | $125,875.47 | $58,440.89 |
| 19 | $173,497.21 | $109,580.35 | $63,916.86 |
| 20 | $162,010.76 | $92,278.80 | $69,731.96 |
| 21 | $149,815.85 | $73,908.64 | $75,907.21 |
| 22 | $136,868.78 | $54,403.89 | $82,464.89 |
| 23 | $123,123.17 | $33,694.46 | $89,428.71 |
| 24 | $108,529.76 | $11,705.95 | $96,823.81 |
| 25 | $93,036.26 | $0.00 | $93,036.26 |
| 26 | $76,587.16 | $0.00 | $76,587.16 |
| 27 | $59,123.51 | $0.00 | $59,123.51 |
| 28 | $40,582.73 | $0.00 | $40,582.73 |
| 29 | $20,898.41 | $0.00 | $20,898.41 |
| 30 | $0.00 | $0.00 | $0.00 |
How it works · methodology
The math, in the open.
payment P&I = L · [ r(1+r)^n ] / [ (1+r)^n − 1 ] biweekly payment = monthly P&I ÷ 2, paid 26 times a year biweekly accrual: interest = balance · (APR ÷ 26) each period time saved = monthly payoff − biweekly payoff interest saved = monthly total interest − biweekly total interest
- L
- Loan amount
- r
- Monthly interest rate (APR ÷ 12)
- n
- Number of monthly payments in the term
- 26
- Biweekly periods per year (52 weeks ÷ 2)
Assumptions & limits
- The biweekly payment is exactly half the monthly P&I; 26 of them a year equal 13 monthly payments — one extra payment annually.
- The biweekly side amortizes on a true 26-period schedule (interest at APR ÷ 26 per period); the monthly side uses standard monthly amortization.
- Assumes your servicer applies each payment to principal as it arrives, with no enrollment fee — confirm both before enrolling.
- Covers principal and interest only; taxes and insurance in an escrow payment are unaffected. An estimate, not a payoff quote.
By the MintNumber Editorial Team·Reviewed
Frequently asked
Questions about biweekly payments
How does a biweekly mortgage actually pay off the loan faster?
Instead of twelve monthly payments a year, you pay half your monthly amount every two weeks. Because there are 52 weeks in a year, that is 26 half-payments — the equivalent of 13 full monthly payments rather than 12. That one extra payment goes straight to principal every year, and the snowball of saved interest pays the loan off years early.
Is a biweekly plan different from just paying a little extra each month?
The end result is similar, but the mechanism differs. Our loan payoff calculator lets you choose an explicit extra dollar amount each month and keeps your payment date monthly. A biweekly plan ties the extra to your pay cycle — half a payment every two weeks — so the extra payment happens automatically without you having to budget for it. If you would rather pick your own number, the loan payoff calculator shows that path; the math is the same idea applied two different ways.
Will my lender actually apply biweekly payments to principal?
Not always, and this matters. Some servicers hold each half-payment and only apply them once a full monthly payment has accumulated, which removes most of the benefit — and some charge a fee to enroll in a biweekly program. Before signing up, confirm your servicer applies payments as they arrive and does not charge for it. If they will not, you can replicate the effect for free by paying one-twelfth of a payment extra toward principal each month.
How is this different from a mortgage recast?
They solve opposite problems. A biweekly plan keeps your payment roughly the same and shortens the term, getting you out of debt sooner. A mortgage recast keeps the term and lowers your monthly payment after a lump-sum principal payment. Pay biweekly to finish early; recast to ease monthly cash flow.
Does this calculator assume biweekly interest accrual?
Yes. The biweekly side amortizes on a true 26-period-per-year schedule — interest accrues each two-week period at the annual rate divided by 26, and each payment is exactly half the monthly amount. The monthly side is the standard monthly amortization. Real-world results vary slightly with how your servicer accrues interest and applies payments; treat the figures as a close estimate, not a payoff quote.