Is there a fee for biweekly programs?

Third-party programs may charge $200-$400. Skip them and make the extra payment yourself for free.

Does biweekly work on 15-year mortgages?

Yes, though savings are smaller. Select 15 years in the calculator to see your specific numbers.

Biweekly Mortgage Calculator

Q: Does my lender have to offer biweekly payments?

Not all lenders offer biweekly programs. Make one extra payment per year instead — divide your monthly payment by 12 and add that to each payment as extra principal.

Q: How is the biweekly payment calculated?

Your biweekly payment is your monthly payment divided by two. You make 26 half-payments per year instead of 24, effectively making one extra monthly payment per year.

Q: Can I switch to biweekly payments at any time?

Yes. Contact your lender or servicer. If unavailable, add one-twelfth of your monthly payment to each payment as principal-only.

See how biweekly payments slash your interest and shave years off your mortgage

Loan Amount ($)

Interest Rate (%)

Loan Term

Loan Start Month

Biweekly Payment

$—

Monthly Equivalent

$—

Interest Saved

$—

Years Saved

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Payoff Date

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Monthly vs Biweekly Comparison

Should You Switch to Biweekly Payments?

Enter your loan details above to see personalized guidance.

How Biweekly Mortgage Payments Work

With a standard monthly mortgage, you make 12 payments per year. Switch to biweekly and you pay every two weeks, which adds up to 26 half-payments — or 13 full monthly payments annually. That one extra payment per year goes entirely toward principal, cutting your interest and loan term significantly.

On a $350,000 loan at 6.75% for 30 years, biweekly payments typically save over $60,000 in interest and pay off the loan about 4-5 years early.

Biweekly vs Monthly: Key Differences

Payment Frequency
Monthly = 12 payments/year. Biweekly = 26 payments/year. The extra payment per year is what drives all the savings.

Interest Savings
Each biweekly payment reduces your principal faster, so less interest accrues. The compounding effect grows substantially over a 30-year term.

Loan Payoff Timeline
Most 30-year mortgages are paid off in 25-26 years with biweekly payments, shaving 4-5 years off without refinancing.

Cash Flow Impact
Two months per year you will have three payment periods instead of two. Budget accordingly and align payments with your paycheck schedule.

Frequently Asked Questions

Does my lender have to offer biweekly payments?

Not all lenders offer biweekly programs. You can achieve the same result by making one extra payment per year — divide your monthly payment by 12 and add that to each payment as extra principal.

Is there a fee for biweekly payment programs?

Third-party programs may charge $200-$400 in fees. Skip them — achieve the same result for free by making one extra payment per year yourself.

How is the biweekly payment calculated?

Your biweekly payment is your standard monthly payment divided by two. You make 26 half-payments instead of 24, effectively making one extra monthly payment per year.

When does biweekly make the most sense?

Early in the loan when your balance is highest. Starting from day one of a 30-year mortgage saves significantly more than switching in year 10.

Can I switch to biweekly payments at any time?

Yes. Contact your lender or servicer. If they do not offer it, divide your monthly payment by 12 and add that to each monthly payment as principal-only.

What if I have a 15-year mortgage?

Biweekly still saves money but the impact is smaller since you are already paying off faster. Select 15 years in the dropdown to see your specific savings.

Quick Tip: The DIY Biweekly Method

If your lender does not offer biweekly payments, divide your monthly payment by 12 and add that amount to every monthly payment labeled apply to principal. On a $350,000 loan at 6.75%, that is about $190 extra per month.