Bi-Weekly Mortgage Calculator
Compare monthly payments with half-payments every two weeks to see the years and interest you could save.
Quick answer
A bi-weekly mortgage pays half the monthly payment every two weeks, which makes 26 half payments, or 13 full payments, a year. The extra payment goes to principal, so the loan is repaid sooner and total interest falls.
Bi-Weekly Mortgage Calculator
Monthly Payment
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Bi-Weekly Payment (26 / yr)
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Time Saved
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Interest Saved
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Total Interest, Monthly
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Total Interest, Bi-Weekly
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Extra Paid per Year
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Year-by-Year Balance
| Year | Monthly balance (₹) | Bi-weekly balance (₹) | Interest paid, monthly (₹) | Interest paid, bi-weekly (₹) |
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Assumptions & method
- Monthly payment = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = annual rate ÷ 12 and n = years × 12. At 0% it is P ÷ n.
- Bi-weekly payment = monthly payment ÷ 2, paid 26 times a year (every 14 days), so 13 monthly payments’ worth of cash per year.
- Bi-weekly interest accrues each period at annual rate ÷ 26 on the balance, and each payment is applied on the day it is made.
- The loan ends when the balance reaches zero; the final payment is reduced to what is owed. Time saved = original term − bi-weekly payoff time.
- Years in the table for the bi-weekly loan are 26 periods each. Not included: taxes, insurance, escrow, program fees, prepayment penalties or rate changes.
Results are estimates based on the figures you enter. They are not guarantees and not financial advice.
Why bi-weekly payments shorten a mortgage
Most mortgages are paid monthly, which is 12 payments a year. A bi-weekly plan splits the monthly payment in half and pays it every two weeks. Since there are 26 two-week periods in a year, you make 26 half payments, which add up to 13 full payments. The extra payment reduces principal each year, so interest has less to grow on and the loan ends earlier. This calculator simulates both schedules from the amount, rate and term, then shows the time and interest saved and how the balances diverge year by year.