# Biweekly Mortgage Calculator

URL: https://speedycalculator.com/calculators/finance/biweekly-mortgage/
Last updated: 2026-10-25

> The biweekly mortgage calculator compares monthly payments with accelerated bi-weekly payments – half the monthly payment every two weeks – showing the new payoff time and the interest you save.

## Inputs

- Loan amount
- Mortgage term (years, months)
- Interest rate (%)
- Bi-weekly program setup fee

## Results

- Monthly payment
- Total interest – monthly
- Bi-weekly payment
- Bi-weekly payments needed
- Payoff time – bi-weekly
- Total interest – bi-weekly
- Interest saved
- Time saved

## Formula

```
Monthly payment M = P × i ÷ (1 − (1 + i)^−n)
Accelerated bi-weekly payment = M ÷ 2, paid 26 times a year (13 monthly payments)
Number of bi-weekly payments = nper(bi-weekly rate, M/2, P)
```

## Explanation

Paying half your mortgage every two weeks results in 26 half-payments – one extra monthly payment a year – which typically takes 4–6 years off a 30-year loan. Check your lender applies bi-weekly payments immediately and doesn't charge a fee.

### How to use the Biweekly Mortgage Calculator

- **Loan amount**
- **Mortgage term**
- **Interest rate**
- **Bi-weekly program setup fee**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter the loan amount, term and interest rate.

### Tips

- Get a written loan estimate and compare the APR, not just the interest rate.
- Include property tax, insurance, HOA fees and maintenance in your monthly budget.
- A larger down payment lowers the payment and can remove mortgage insurance.
- Rates change daily – use a current quote for the most accurate result.

### Common mistakes to avoid

- Looking only at the monthly payment instead of the total cost of the loan.
- Forgetting closing costs and fees.
- Assuming home prices always rise.

### Inputs explained

FieldWhat to enterLoan amountAmount in your currencyMortgage termUnits: years, monthsInterest rateIn %Bi-weekly program setup feeAmount in your currency

### What each result means

- **Monthly payment** = pmt([Interest rate]÷1200, [Mortgage term], [Loan amount])
- **Total interest – monthly** = [Monthly payment]×[Mortgage term] - [Loan amount]
- **Bi-weekly payment** = [Monthly payment]÷2
- **Bi-weekly payments needed** = nper((1 + [Interest rate]÷1200)^(12÷26) - 1, [Bi-weekly payment], [Loan amount])
- **Payoff time – bi-weekly** = [Bi-weekly payments needed]÷26
- **Total interest – bi-weekly** = [Bi-weekly payment]×[Bi-weekly payments needed] - [Loan amount]
- **Interest saved** = [Total interest – monthly] - [Total interest – bi-weekly] - [Bi-weekly program setup fee]
- **Time saved** = [Mortgage term]÷12 - [Payoff time – bi-weekly]

### Example values

How the main result changes when **Loan amount** changes and everything else stays at the example values above:

Loan amountInterest saved175,00052,117.93262,50078,176.89350,000104,235.86437,500130,294.82525,000156,353.79700,000208,471.72

## Worked example

Inputs — Loan amount: $350,000; Mortgage term: 30 years; Interest rate: 6.5 %; Bi-weekly program setup fee: $0.

Results — Monthly payment = $2,212.24; Total interest – monthly = $446,405.71; Bi-weekly payment = $1,106.12; Bi-weekly payments needed = 626; Payoff time – bi-weekly = 24.1 years; Total interest – bi-weekly = $342,169.85; **Interest saved = $104,235.86**; Time saved = 5.9 years.

## FAQ

**How much does a bi-weekly mortgage save?**
Often 4–6 years and tens of thousands in interest on a 30-year loan.

**Why does it work?**
26 half-payments equal 13 monthly payments a year.

**Can I do the same with monthly payments?**
Yes – add 1/12 of a payment to each monthly payment.

**What formula does the Biweekly Mortgage Calculator use?**
Monthly payment M = P × i ÷ (1 − (1 + i)^−n).


## Sources

- [Consumer Financial Protection Bureau](https://www.consumerfinance.gov/)