Bi-Weekly Mortgage Payment Calculator

Your details

Your original mortgage balance or the remaining principal today.
Your fixed or current adjustable mortgage rate (APR), as a percentage.
%
Original loan term in years. Common values are 15, 20, or 30.
years
Additional principal you pay each bi-weekly period on top of the standard bi-weekly amount. Even $50 extra adds up significantly over time.
Currency
Bi-weekly payment
$972.90

Half of the standard monthly payment, paid every two weeks

Standard monthly payment$1,945.79
Interest saved$95,553.00
Time saved6 years and 2 months
Total interest (monthly)$400,485.94
Total interest (bi-weekly)$304,932.95
Payoff months (monthly)360
Payoff months (bi-weekly)286
Monthly schedule$402,431.74
Bi-weekly schedule$305,905.84

Interest saved: $95,553.00

  • Payment
  • Total interest

Bi-weekly payments save $95,553 and cut 6 years and 2 months from your term.

  • Your bi-weekly payment is $972.90, half of your $1945.79 monthly payment.
  • You make 26 payments per year instead of 24 half-payments, adding one full monthly payment to principal annually.
  • Switching to bi-weekly saves roughly $95,553 in interest over the life of the loan.
  • Your payoff date moves 6 years and 2 months sooner.

Next stepCheck with your lender before switching: some servicers require a fee to set up a bi-weekly auto-draft, while others simply let you make half-payments manually every two weeks at no cost.

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