Bi-Weekly Mortgage Payment Calculator
Calculate how much interest you save and how many years you cut from your mortgage by switching to bi-weekly payments. Perfect for homeowners wanting a simple, automatic way to pay off their home loan faster.
Last updated: October 2026
Bi-Weekly Savings
117,495.71 $
Formula below · 1 source (CFPB) · Updated Oct 2026
Compare with similar
About this calculator
Paying half of your monthly payment every two weeks means 26 half-payments a year, the same as 13 monthly payments instead of 12. The extra payment goes to principal, so the balance falls faster and less interest accrues afterwards.
How it is calculated
The monthly payment is the standard fixed-rate amortization payment, M = P × r ÷ (1 − (1 + r)^−n), with r = annual rate ÷ 12 and n = term × 12. Total interest on the monthly schedule is M × n − P. The bi-weekly schedule is then simulated payment by payment: each period accrues interest at the annual rate ÷ 26 on the remaining balance, and M ÷ 2 plus any extra amount is paid. Interest saved is the difference in total interest, and years cut is the original term minus the number of bi-weekly payments ÷ 26.
Check how your servicer handles it
The savings only happen if each half-payment is applied when it is received or the 13th payment reaches principal. Some third-party bi-weekly programs charge fees or hold the money until a full payment builds up, which cancels much of the benefit. Adding one-twelfth of a payment to each monthly payment, or making one extra payment a year, has almost the same effect at no cost. This is an estimate for planning, not financial advice; your lender's Loan Estimate and the terms of your note are what count.
How to use
Enter the loan amount, rate and term, plus any extra amount you would add to each bi-weekly payment, and choose what to show. The default $400,000 loan at 6.5% for 30 years has a monthly payment of $2,528.27, so each bi-weekly payment is $1,264.14. Paid every two weeks, the loan is paid off about 5.85 years early and saves about $117,500 in interest.
Frequently asked questions
How much do bi-weekly payments save on a 30-year mortgage?
On a $400,000 loan at 6.5%, about $117,500 of interest and almost six years. The higher the rate and the longer the term, the bigger the saving, because more of each payment is interest.
Is a bi-weekly plan better than one extra payment a year?
They are nearly the same, since both add one monthly payment a year. Bi-weekly payments reduce principal slightly earlier through the year, so they save a little more, but only if the servicer applies each payment when received.
Do bi-weekly mortgage programs charge fees?
Some third-party programs charge enrollment or per-payment fees, which eat into the savings. Ask your servicer whether it accepts bi-weekly payments directly, or simply add extra principal to your monthly payment.
Related calculators
Sources & references
Think a result is wrong? Report a problem with this calculator.