Compare a standard monthly mortgage schedule with a bi-weekly payment plan. See how many years you can shave off and how much interest you may save by paying half your monthly payment every two weeks.
This bi-weekly mortgage calculator compares a standard monthly payment schedule with a bi-weekly payment plan. Instead of making 12 full payments per year, a bi-weekly plan makes half the monthly payment every two weeks, resulting in 26 half-payments (13 full payments) each year.
The calculator first computes the standard fixed-rate monthly payment based on loan amount, annual interest rate and term. It then simulates a bi-weekly schedule where half of that payment is applied every two weeks, using an approximate bi-weekly interest rate derived from the annual rate.
For each plan, the calculator estimates:
The difference between the two options shows how many years you might shave off your mortgage and how much interest you may save by switching to a bi-weekly payment plan. Actual results can vary depending on your lender’s policies, exact interest calculation method and any fees. Always confirm details with your lender before changing your payment schedule.
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