Bi-Weekly Mortgage Calculator
See how bi-weekly payments can pay off your mortgage faster
Loan Details
How Bi-Weekly Works
- • Pay half your monthly payment every 2 weeks
- • 26 half-payments = 13 full payments per year
- • That is 1 extra payment per year
- • Extra payment goes directly to principal
- • Reduces interest and shortens loan term
Extra Payment Per Year
$2,212
Applied to principal
Payment Comparison
Interest Savings
$101,763
Time Saved
5.8 years
(70 months)
Monthly Payment Schedule
Monthly Payment:$2,212
Payoff Time:30 years
Total Interest:$446,406
Total Paid:$796,406
Bi-Weekly Payment Schedule
Bi-Weekly Payment:$1,106
Payoff Time:24.2 years
Total Interest:$344,643
Total Paid:$694,643