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Bi-Weekly Mortgage Calculator

Save interest with bi-weekly payments

$
%

Interest Saved with Bi-Weekly

$102,809

Pay off 12.5 years earlier!

Monthly Payments

$2212/mo

Total Interest

$446,406

Payoff

360 months

Bi-Weekly Payments

$1106/2wk

Total Interest

$343,597

Payoff

210 months

How Bi-Weekly Saves Money

1

26 payments = 13 months of payments

Paying every 2 weeks means one extra monthly payment per year

2

More frequent payments reduce principal faster

Less time for interest to accrue between payments

3

Compounding effect over loan term

Small changes early have big impact over 30 years

Frequently Asked Questions

Q

How do bi-weekly mortgage payments work?

Instead of 12 monthly payments, you make 26 half-payments (every 2 weeks). This equals 13 full monthly payments per year—one extra payment annually. This accelerates payoff and reduces total interest.

Q

How much can I save with bi-weekly payments?

On a $350,000 loan at 6.5% for 30 years, bi-weekly payments can save ~$60,000+ in interest and pay off your mortgage 4-6 years early. Savings increase with higher loan amounts and interest rates.

Q

Does my lender offer bi-weekly payments?

Some lenders offer official bi-weekly programs (may charge fees). Alternatively, you can: 1) Make half payments every 2 weeks yourself, 2) Add 1/12 extra to each payment, or 3) Make one extra payment per year.

Q

Is bi-weekly better than extra principal payments?

Both work similarly. Bi-weekly adds convenience by matching paychecks. Making one extra payment per year achieves nearly the same savings. The key is consistently paying more toward principal.

Q

Are there downsides to bi-weekly payments?

Consider: Some lenders charge fees for bi-weekly programs, you lose flexibility of that extra money, and it requires consistent cash flow. Ensure you have emergency savings before accelerating mortgage payoff.

Q

Can I switch to bi-weekly payments anytime?

Yes, you can typically start bi-weekly payments at any point. Contact your lender about their program, or simply make extra payments yourself. Ensure extra payments are applied to principal, not future payments.

Example Calculations

1Bi-Weekly Savings on a $300,000 Loan at 7%

Inputs

Loan Amount$300,000
Interest Rate7.0%
Loan Term30 years

Result

Interest Saved$103,388
Monthly Payment$1,996/mo
Bi-Weekly Payment$998/2wk
Monthly Total Interest$418,527
Bi-Weekly Total Interest$315,139
Years Saved12.8 years

Monthly payment M = $300,000 × 0.005833 × 1.005833^360 / (1.005833^360 − 1) = $1,996. Bi-weekly = $1,996 / 2 = $998 every two weeks. With 26 payments/year (13 months worth), you pay off 154 months (12.8 years) early and save $103,388 in interest.

2Bi-Weekly Savings on a $200,000 Loan at 6%

Inputs

Loan Amount$200,000
Interest Rate6.0%
Loan Term30 years

Result

Interest Saved$49,624
Monthly Payment$1,199/mo
Bi-Weekly Payment$600/2wk
Monthly Total Interest$231,676
Bi-Weekly Total Interest$182,052
Years Saved12.3 years

Monthly payment M = $200,000 × 0.005 × 1.005^360 / (1.005^360 − 1) = $1,199. Bi-weekly = $1,199 / 2 = $600. By making 26 half-payments per year you effectively make one extra monthly payment annually, saving $49,624 in interest and paying off 12.3 years early.

Formulas Used

Monthly Payment

M = P × r(1 + r)^n / ((1 + r)^n − 1)

Standard amortization formula for the monthly payment amount.

Where:

M= Monthly payment
P= Loan amount
r= Monthly interest rate (annual rate / 100 / 12)
n= Total monthly payments (years × 12)

Bi-Weekly Payment

Bi-Weekly Payment = M / 2

Each bi-weekly payment is exactly half the monthly payment. Paying every 2 weeks yields 26 payments per year, equivalent to 13 monthly payments instead of 12.

Where:

M= Monthly payment

Interest Saved

Interest Saved = Monthly Total Interest − Bi-Weekly Total Interest

The difference in total interest paid between the standard monthly schedule and the accelerated bi-weekly schedule.

Where:

Monthly Total Interest= (M × n) − P
Bi-Weekly Total Interest= Sum of all interest charges during simulated bi-weekly payoff

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Last Updated: Feb 12, 2026

This calculator is provided for informational and educational purposes only. Results are estimates and should not be considered professional financial, medical, legal, or other advice. Always consult a qualified professional before making important decisions. UseCalcPro is not responsible for any actions taken based on calculator results.

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