Paying half your mortgage every two weeks adds up to one extra payment a year, and big savings.
A biweekly mortgage calculator shows how paying half your monthly mortgage every two weeks, instead of one full payment a month, shortens the loan and cuts total interest. Because a year has 52 weeks, you make 26 half-payments, the equivalent of 13 monthly payments instead of 12.
That one extra monthly payment each year goes entirely to principal, so the balance falls faster and you owe interest on a smaller amount every month afterward. On a typical 30-year loan, a true biweekly schedule usually shaves roughly four to six years off the term and can save tens of thousands in interest, the exact figure depends on your rate and balance, which the calculator works out.
The strategy only works if your servicer actually credits payments every two weeks and applies the extra to principal, rather than holding the half-payments and disbursing monthly. Some lenders charge a fee to set up a formal biweekly plan; you can usually get the same result for free by simply paying an extra one-twelfth of your payment each month, or one full extra payment a year. Always confirm there's no prepayment penalty first.
Paying half your monthly amount every two weeks produces 26 half-payments a year, one extra full payment. That extra goes to principal, shortening the loan and reducing total interest.
On a 30-year loan it commonly trims four to six years and tens of thousands in interest, depending on your rate and balance. Enter yours above to see the exact numbers.
The effect is identical to paying an extra one-twelfth of your payment each month. Doing it yourself avoids any setup fee some lenders charge for a formal biweekly program.
See the exact formula and a worked example on our methodology page.