Bi-Weekly vs Monthly Mortgage Calculator
See how much interest you'd save — and how many years sooner you'd be mortgage-free — by paying half your mortgage every two weeks instead of monthly.
You'd also pay off your mortgage about 5.8 years sooner.
| Total interest — monthly | $446,405.71 |
| Total interest — bi-weekly | $343,596.97 |
| Payoff time — monthly | 30 years |
| Payoff time — bi-weekly | 24.2 years |
Covers principal and interest only — not taxes, insurance, PMI, or HOA. Assumes a fixed rate and that the extra payments go straight to principal with no lender fees.
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How this calculator works
Who this is for
Anyone with a fixed-rate mortgage who wants to pay it off faster without dramatically changing their budget. Switching from monthly to bi-weekly payments is one of the simplest ways to cut total interest and shave years off the loan.
How bi-weekly payments work
Instead of one full payment each month (12 per year), you pay half the monthly amount every two weeks. Because there are 52 weeks in a year, that's 26 half-payments — the equivalent of 13 monthly payments instead of 12.
That one extra payment each year goes entirely to principal, so the balance falls faster and less interest accrues over the life of the loan.
A worked example
On a $350,000 loan at 6.5% over 30 years, the monthly payment is about $2,212. Paying $1,106 every two weeks instead retires the loan several years early and saves tens of thousands in interest — the exact figures update in the result above as you change the inputs.
Caveats
This models principal and interest only — not property taxes, insurance, PMI, or HOA dues. It also assumes your lender applies bi-weekly payments to principal immediately and charges no enrollment fee. Confirm both with your servicer before signing up for a formal bi-weekly plan.
Frequently asked questions
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This site is for educational purposes only and does not constitute financial advice.