Paying half your mortgage every two weeks adds up to one extra payment a year, and big savings.
How this is calculated Embed on your siteUpdated October 2026
A biweekly mortgage plan replaces your monthly payment with half of it every two weeks. Because there are 52 weeks in a year, that is 26 half payments, which adds up to 13 full payments instead of 12. That one extra payment a year goes straight to principal and shortens the loan. On the default example, a $360,000 30-year loan at 6.5%, it saves $105,746 in interest and pays the loan off in about 24 years and 2 months.
There is nothing special about the two-week timing itself. Almost all of the benefit comes from the extra payment. Each dollar of principal you pay early stops accruing interest for the rest of the loan, so an extra payment in year one saves far more than the same payment in year 25. That is why the savings are so large on a long loan and much smaller on a short one:
| Loan | Monthly payment | Interest saved | Paid off in |
|---|---|---|---|
| $360,000, 30 years, 6.5% | $2,275 | $105,746 | about 24 years 2 months |
| $250,000, 30 years, 7% | $1,663 | $86,157 | about 23 years 9 months |
| $360,000, 15 years, 6.5% | $3,136 | $28,637 | about 13 years 2 months |
Some lenders and third-party services charge a setup fee or a per-payment fee to run a biweekly program, and some simply hold your half payments and apply them once a month. You can skip all of that. Add one twelfth of your monthly payment to every regular payment and mark it as extra principal.
On the $360,000 example, that is about $190 a month. Paying $2,465 instead of $2,275 saves $104,707 in interest and pays the loan off in 290 months, the same 24 years and 2 months as the biweekly plan. You get the same benefit, keep a normal monthly schedule, and can stop or change the extra amount at any time.
A biweekly schedule can still make sense if you are paid every two weeks and find it easier to send money as it arrives. If you go that route, confirm with your servicer that each half payment is applied when received and that there is no fee.
An extra payment earns a guaranteed return equal to your mortgage rate. At 6.5% or 7%, that is a strong, risk-free return. At 3%, you might do better elsewhere. Before sending extra money to the mortgage, it usually makes sense to:
Our pay off debt or invest calculator compares the two choices with your own rates. To try a different extra payment amount, or a one-time lump sum, use the extra payment calculator.
On a $360,000 30-year loan at 6.5%, biweekly payments save about $105,746 in interest and pay the loan off roughly six years early. The savings depend on your balance, rate and how many years are left.
Yes. Paying half your monthly amount every two weeks means 26 half payments a year, which equals 13 monthly payments. The extra payment is what shortens the loan.
They produce nearly the same result. Adding one twelfth of your payment each month, or one extra full payment each year, saves almost as much as a biweekly plan and avoids any program fees.
You can always pay extra toward principal. To switch to a true biweekly schedule, ask your servicer whether it offers one and whether there are fees. Avoid paying a third party for something you can do yourself.
No. Each payment is half your monthly amount, so your spending is about the same per month, with one extra month's payment spread across the year.
The calculator compares the standard amortization schedule with half payments every two weeks. See the formula on our methodology page. Estimates only.