Do I need my lender's permission to pay biweekly?

Not usually, but ask your servicer how they apply partial payments. Some hold half payments until the full amount arrives. You can get the same result by adding one twelfth of your payment as extra principal each month.

Are biweekly payment programs worth paying a fee for?

Generally no. Third-party programs that charge setup or per-payment fees do nothing you cannot do yourself for free by adding extra principal. Check that any extra money is applied to principal, not held.

How much does a biweekly plan save?

On a 30-year loan at a typical rate, an extra payment a year often takes four to six years off the loan and saves tens of thousands in interest. The exact savings depend on your rate and balance, which is what this calculator shows.

All calculators · Payments and payoff

Biweekly Payments Calculator

Paying half your mortgage payment every two weeks works out to 26 half payments, or 13 full payments, a year. See how that one extra payment a year shortens the loan and cuts interest.

Interest saved with biweekly payments

$214,513

Paid off 6 years sooner by paying $2,205 every two weeks.

Principal43%
Interest paying biweekly44%
Interest saved14%

Monthly payment: $4,410
Biweekly payment (26 a year): $2,205
Extra paid each year: $4,410
Payoff paying monthly: 30 years
Payoff paying biweekly: 24 years
Interest paying monthly: $907,768
Interest paying biweekly: $693,255

One extra payment of $4,410 a year, split across 26 half payments, takes 72 months off the loan.

Get exact numbers from our team (949) 774-9599

Year	Balance paying monthly	Balance paying biweekly	Difference
1	$672,753	$668,203	$4,550
2	$665,001	$655,585	$9,416
3	$656,710	$642,089	$14,621
4	$647,841	$627,653	$20,188
5	$638,355	$612,211	$26,144
6	$628,208	$595,695	$32,513
7	$617,355	$578,028	$39,327
8	$605,746	$559,131	$46,615
9	$593,329	$538,919	$54,410
10	$580,047	$517,299	$62,748

Estimates for illustration only, not a loan offer or a commitment to lend. Rates, taxes, insurance and program rules vary; our team will confirm exact figures for your situation.

How this calculator works.

There are 52 weeks in a year, so a payment every two weeks is 26 half payments, the same as 13 monthly payments instead of 12. The extra payment goes to principal.

The calculator models that as your regular monthly payment plus one twelfth of a payment in extra principal each month, which is how most servicers apply a biweekly plan once the funds arrive.

It then compares the biweekly plan with standard monthly payments over the same loan: the payoff time, the months saved and the interest saved.

Biweekly plan ≈ monthly payment + (monthly payment ÷ 12) extra principal each month.

Common questions.

Turn the estimateinto real numbers.

Answer a few questions and our team will price your scenario with current rates and the right program.

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