Biweekly Mortgage Calculator
See how biweekly payments can help you pay off your mortgage faster
Loan Details
Typical: 5.5% - 8%
Loan Summary
Loan Details
Financial Disclaimer
This calculator provides estimates for informational purposes only. Actual loan terms, rates, and payments may vary. This is not financial advice. Consult with a qualified financial advisor or lender for specific guidance. PayoffCalculator.io is not a lender and does not provide loans.
How to Use This Biweekly Mortgage Calculator
Enter your loan amount, interest rate, and term. The calculator compares your current monthly payment schedule with a biweekly payment schedule, showing time saved, interest saved, and new payoff date.
Understanding Biweekly Mortgage Loans
Biweekly payments work because there are 52 weeks in a year, resulting in 26 biweekly payments (13 monthly equivalent payments) instead of 12 monthly payments. This extra payment goes entirely toward principal reduction.
Tips for Getting the Best Biweekly Mortgage Rate
Before signing up for a lender's biweekly program (which may charge fees), consider simply dividing your monthly payment by 12 and adding that amount to each payment. This achieves the same result without fees.
Frequently Asked Questions
Instead of 12 monthly payments, you make 26 half-payments (every two weeks). This equals 13 full monthly payments per year, giving you one extra payment annually without noticing the difference.