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Biweekly Mortgage Calculator

📅Last updated: October 7, 2025
✓Reviewed by: LumoCalculator Team

Calculate biweekly vs monthly mortgage payments. Enter loan amount, APR, term and start date to see payment amounts, interest saved, months saved and biweekly payoff date.

Biweekly Mortgage Calculator

Calculate your biweekly mortgage payments and savings

Loan Amount
$
Annual Interest Rate (%)
%
Loan Term (Years)
Start Date

Biweekly Mortgage Results

Monthly Payment

$2528.27
per month

Biweekly Payment

$1264.14
every 2 weeks

Savings Analysis

Interest Savings
$117496
Time Saved
70 months
Total Savings
$117496
Savings %
23.03%

Payment Schedule (First 12 Months)

Payment #DatePrincipalInterestBalance
12026-01-01$264$1000$399736
22026-01-15$265$999$399471
32026-01-29$265$999$399206
42026-02-12$266$998$398939
52026-02-26$267$997$398673
62026-03-12$267$997$398405
72026-03-26$268$996$398137
82026-04-09$269$995$397868
92026-04-23$269$995$397599
102026-05-07$270$994$397329
112026-05-21$271$993$397058
122026-06-04$271$993$396786

Benefits of Biweekly Mortgage Payments

Financial Benefits

Interest Savings15-25%

Average interest reduction

  • • Extra payment goes to principal
  • • Reduces total interest paid
Time Savings4-6 years

Average time reduction

  • • Pay off mortgage faster
  • • Build equity quicker
Extra Payment1 month/year

Additional payment annually

  • • 26 payments vs 12 payments
  • • Equivalent to 13 monthly payments

Practical Benefits

Budget Friendly50%

Half payment every 2 weeks

  • • Easier to budget
  • • Aligns with biweekly pay
FlexibilityHigh

Can switch back to monthly

  • • No penalty for changes
  • • Adjustable payment schedule
Lender SupportMost

Most lenders offer this option

  • • Automatic payment setup
  • • May have setup fees

How Biweekly Mortgage Payments Work

Mortgage Payment Formula

Monthly Payment: M = P[r(1+r)^n] / [(1+r)^n - 1]
Biweekly Payment: M/2 (half of monthly payment)
Where: P = Principal, r = monthly rate, n = total months

Source: Standard mortgage calculation formula used by financial institutions

How It Works:

  1. 1
    Calculate monthly payment
    Use standard mortgage formula with principal, rate, and term
  2. 2
    Divide by 2 for biweekly amount
    Each biweekly payment is half the monthly payment
  3. 3
    Calculate total payments
    26 payments per year vs 12 monthly payments
  4. 4
    Determine savings
    Compare total interest paid and time to payoff

Important Considerations

⚠️ Financial Disclaimer

This calculator provides estimates. Consult financial professionals for personalized advice.

🏦 Lender Policies

Not all lenders offer biweekly payment programs

  • • Check with your lender first
  • • May require setup fees
  • • Automatic payment requirements
💰 Financial Planning

Consider your overall financial situation

  • • Emergency fund priority
  • • Other debt obligations
  • • Investment opportunities
📅 Payment Timing

Biweekly payments align with pay schedules

  • • Every 2 weeks timing
  • • Budget management benefits
  • • Cash flow considerations
⚠️ Important Notes

Consider these factors before switching

  • • Prepayment penalties
  • • Tax implications
  • • Refinancing options

Example Cases

Case 1: Typical Home Purchase

Loan Amount: $400,000
Interest Rate: 6.5%
Term: 30 years
Monthly Payment: $2,528
Biweekly Payment: $1,264
Interest Savings: $117,495

Use Case: Perfect for first-time homebuyers looking to save on interest and pay off their mortgage faster.

Case 2: High-Value Property

Loan Amount: $800,000
Interest Rate: 7.2%
Term: 30 years
Monthly Payment: $5,424
Biweekly Payment: $2,712
Interest Savings: $234,990

Use Case: Ideal for luxury home buyers who want to maximize interest savings on high-value properties.

Frequently Asked Questions

What is a biweekly mortgage payment?
A biweekly mortgage payment is when you make half of your monthly mortgage payment every two weeks instead of one full payment per month. This results in 26 half-payments per year (equivalent to 13 full monthly payments), which helps you pay off your mortgage faster and save on interest.
How does biweekly payment save money?
Biweekly payments save money because you make 26 half-payments per year instead of 12 full payments. This extra payment goes directly toward your principal, reducing the total interest you pay over the life of the loan. On average, this can save 4-6 years off a 30-year mortgage and reduce total interest by 15-25%.
What's the difference between biweekly and monthly payments?
Monthly payments: 12 payments per year. Biweekly payments: 26 half-payments per year (equivalent to 13 full payments). The extra payment in biweekly plans goes directly to principal, accelerating loan payoff and reducing total interest paid over the loan term.
When should I consider biweekly mortgage payments?
Consider biweekly payments if you have stable income, want to pay off your mortgage faster, and can afford the slightly higher annual payment amount. It's particularly beneficial for long-term mortgages (30 years) and when interest rates are high, as the savings compound significantly over time.
Do all lenders offer biweekly payment options?
Not all lenders offer biweekly payment programs. Some may charge setup fees or require automatic payments. You can also create your own biweekly plan by making extra principal payments. Check with your lender about their specific biweekly payment policies and any associated fees.

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