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Bi-Weekly Mortgage Calculator

Freddie Mac's 30-year average for Oct 1, 2026. Enter your loan's rate.

Total Paid, Bi-Weekly: $582,986.95
Loan: $280,000.00
Interest: $302,986.95
Every Two Weeks$957.90
Monthly Payment$1,915.79
Paid off, bi-weeklyFeb 2050
Paid off, monthlyOct 2056
Time saved6 yrs, 7 mo
Interest, bi-weekly$302,986.95
Interest, monthly$409,685.98
Interest saved$106,699.03
Extra Paid Each Year$1,915.79

Assumes each half-payment is credited the day it arrives, with interest charged on the balance every two weeks. Servicers handle bi-weekly plans differently: ask yours how it credits them and whether it charges a fee.

If your lender holds each half-payment and credits it once a month, the loan ends in about 23 yrs, 7 mo and saves about $104,188.97.

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Estimates for informational purposes only — not financial advice.

Compare scenarios

Pin the numbers on screen, change any input, and see them side by side.

How Bi-Weekly Payments Pay Off a Mortgage Early

An accelerated bi-weekly plan replaces your monthly mortgage payment with half of it every two weeks. Because a year has 26 two-week periods, you end up making the equivalent of 13 monthly payments a year instead of 12, and the extra payment goes straight to principal. On a 30-year loan that can take years off the term and save thousands in interest. This calculator compares the two plans side by side: payments, payoff dates, interest and the full bi-weekly schedule.

How this calculator works

Compares paying a mortgage monthly with paying half the monthly payment every two weeks: the payoff dates, the time saved and the interest saved.

How it calculates

  1. Monthly payment M = L × r ÷ (1 − (1 + r)^−n), with L the loan amount, r the annual rate ÷ 12 and n the term in months. The bi-weekly payment is M ÷ 2.
  2. Interest is charged every two weeks at (1 + r)^(12/26) − 1, the rate that compounds to the same yearly cost as the monthly rate.
  3. Each half-payment covers that period's interest, and the rest reduces the balance, until the loan is paid off; the last payment is only what is still owed.
  4. Interest saved is the monthly plan's total interest minus the bi-weekly plan's. Bi-weekly payment dates fall every 14 days from the first payment date.

What it assumes

  • Each half-payment is credited the day it arrives. Servicers differ: one that holds half-payments and credits them monthly saves somewhat less, which the results also show (modeled as one-twelfth of the payment extra each month).
  • A fixed rate, no fee for the bi-weekly plan, and principal and interest only (no taxes or insurance).
  • Checked against an independent calculation: $100,000 at 5% over 30 years, paid $268.41 every two weeks, ends after 656 payments (about 25.2 years) with $75,893.94 of interest.

Sources

Copy and figures last reviewed .

How we build and check all our calculators

Frequently Asked Questions

How much does paying bi-weekly save on a mortgage?

It depends on the rate and term, but the savings are largest on long loans. A $100,000, 30-year loan at 5% costs $536.82 a month. Paying half, $268.41, every two weeks pays it off after 656 payments, about 25 years and 3 months, with $75,893.94 of interest instead of $93,255.78: about $17,362 saved. Enter your own loan to see your payoff date and savings.

Why do bi-weekly payments pay off a mortgage faster?

A year has 26 two-week periods but only 12 months. Paying half your monthly payment every two weeks adds up to 26 half-payments, the same as 13 monthly payments a year. The extra payment goes straight to principal, and a smaller balance means less interest every month after, so the loan ends years early.

Is a bi-weekly plan better than one extra payment a year?

The two come out close, because both put one extra monthly payment a year toward principal. Bi-weekly payments reach the balance a little sooner, so they save slightly more: on a $100,000 loan at 5% over 30 years, about $395 more than adding one-twelfth of the payment each month. If a bi-weekly plan comes with a fee, making the extra payment yourself can be the cheaper way to get almost the same result.

Do I need a special program to pay bi-weekly?

Ask your servicer first. The CFPB suggests checking whether your servicer charges a fee for a bi-weekly plan. Ask too how it credits the payments: some servicers apply each half-payment as it arrives, while others hold it until a whole payment is in, which saves a little less. The results here show both. You can also keep paying monthly and add one-twelfth of your payment as extra principal.

Is bi-weekly the same as splitting the loan into 26 payments a year?

No. Some lenders and calculators offer bi-weekly payments sized to keep the original term: 26 smaller payments a year that end on the same date as paying monthly and save only a little interest. The accelerated plan here keeps each payment at half the monthly amount, which is what adds the extra payment each year and ends the loan early. Check which one a lender or servicer means before you sign up.

Term Definitions

Loan Amount

This is the principal amount of the loan. It is the total amount of money you borrow from a lender and are obligated to pay back, excluding any interest.

Interest Rate

The interest rate is the percentage of the principal that a lender charges for borrowing money. It is typically expressed as an annual rate. A lower interest rate will result in lower monthly payments and less total interest paid over the life of the loan.

Loan Term (Years)

The loan term is the duration over which the loan is scheduled to be repaid. Common loan terms are 15 or 30 years for mortgages, or 3-7 years for personal or auto loans. A longer term usually means lower monthly payments but more total interest paid.

First Payment Date

The due date of the loan's first payment. The calculator dates each payment from it: monthly payments fall on the same day each month, and bi-weekly payments every 14 days. The payoff dates for both plans count from here.

Accelerated Bi-Weekly Payments

With an accelerated bi-weekly plan you pay half your monthly payment every two weeks. A year has 26 two-week periods, so that is 26 half-payments, the same as 13 monthly payments instead of 12. The extra payment goes to principal, which is why the loan ends years early. A plan that splits the same loan into 26 smaller payments a year, sized to keep the original term, ends on about the same date as paying monthly.

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