Calculators / Bi-Weekly Mortgage Payment Calculator
Bi-Weekly Mortgage Payment Calculator
Pay half your payment every two weeks. See how much interest you save and how many years you cut, then get pre-approved in one day.
$350,000 · 6.5% · 30 YEARS$102,809
Interest saved paying bi-weekly
NEXT STEP
Yes. Is Closer Than You Think.
Want to own your home sooner? Get pre-approved in one day. Your loan officer compares rates from 100+ lenders and brings you the strongest offer your file qualifies for.
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See What Bi-Weekly Payments Save You
The results compare monthly payments with bi-weekly payments on the same loan. The cards below use the $350,000 example further down this page.
BI-WEEKLY PAYMENT$1,106
Half your monthly payment, paid every two weeks.
Payoff time
24.2 yearsHow long until your balance reaches zero.
Total interest
$343,597The full interest cost for each schedule.
Interest saved
$102,809The gap between the two.
Time saved
5.8 yearsYears and months cut from your loan.
How Bi-Weekly Payments Pay You Off Sooner
There are 26 two-week periods in a year. That adds up to 13 full monthly payments instead of 12.
THE FORMULABi-weekly payment = Monthly payment ÷ 2Payments per year = 26
26 half-payments a year = 13 full monthly payments.
01
Loan Amount
What you owe.
02
Interest Rate
Your annual rate.
03
Loan Term
Years left on the loan.
04
Payment Frequency
Monthly or bi-weekly.
See Bi-Weekly in Action
Owe $350,000 at 6.5% over 30 years? Load it and see the savings.
| Item | Example |
|---|---|
| Monthly payment | about $2,212 |
| Bi-weekly payment | about $1,106 |
| Payoff time, monthly | 30 years |
| Payoff time, bi-weekly | about 24.2 years |
| Interest saved | about $102,809 |
What Changes Your Savings
Loan Balance
A bigger balance means bigger interest savings.
Interest Rate
A higher rate makes each extra payment work harder.
Time Left
More years remaining means more room to save.
How Your Lender Applies Payments
Confirm your servicer applies each payment on receipt.
Fees
Some programs charge to set up bi-weekly payments. Ask before you enroll.
The questions buyers ask most
Straight answers to what buyers search before they talk to a lender.
26 × ½=13payments
THE EXTRA PAYMENT
How Does Paying Bi-Weekly Save Interest?
You make 26 half-payments a year. That equals 13 full payments. The extra payment goes to principal, and your balance falls faster.
- 26 half-payments a year
- That equals 13 full monthly payments
- The extra payment goes to principal
- Your balance falls faster
TWICE A MONTH
Is Bi-Weekly the Same as Twice a Month?
No. Twice a month is 24 half-payments, which equals 12 full payments. It saves almost nothing. Bi-weekly is 26 payments, and that extra payment is where your savings come from.
| Schedule | Half-payments a year | Full payments a year |
|---|---|---|
| Twice a month | 24 | 12 |
| Bi-weekly | 26 | 13 |
SAME RESULT
Can I Get the Same Result Without Bi-Weekly?
Yes. Add one-twelfth of your payment to each monthly payment. In the example that finishes your loan in about 24.2 years and saves about $101,799 in interest.
BI-WEEKLY24.2 years
Saves about $102,809
MONTHLY + 1/12 EXTRA24.2 years
Saves about $101,799
Compare Payment Schedules
A $350,000 loan at 6.5% over 30 years.
| Schedule | Payments per year | Payoff time | Total interest |
|---|---|---|---|
| Monthly | 12 | 30.0 years | $446,406 |
| Twice a month | 24 | 30.0 years | $445,332 |
| Bi-weekly | 26 | 24.2 years | $343,597 |
| Monthly plus one-twelfth extra | 12 | 24.2 years | $344,607 |
Examples are for illustration and do not determine eligibility. Results depend on how your servicer applies payments.
Bi-Weekly Payment Calculator FAQs
Quick answers to the questions borrowers ask most about bi-weekly payments.
Have a question? Ask us.
Our loan officers will walk you through your numbers, no pressure and no obligation.
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How much will bi-weekly payments save me?
In the example, about $102,809 in interest and almost 6 years. Your result depends on your balance, rate and term.
Do I need a special program?
Not always. Some servicers offer bi-weekly plans. You can also add extra to each monthly payment for the same effect.
Are there fees?
Some third-party plans charge setup or per-payment fees. Ask your servicer first.
Will my loan terms change?
No. Your rate and balance stay the same. You pay the loan off faster.
Can I switch back to monthly?
Usually yes. Check with your servicer.
Is a calculator the same as pre-approval?
A calculator gives an estimate. Pre-approval checks your income, credit and assets. We can pre-approve you in one day.
Keep Planning Your Payoff
Run the Numbers.
Find Your Yes.
Estimate payments, see your costs and compare your options with every Austin Capital Mortgage calculator.
Loan amount$380,000
5% down30 yr
Rate (example)6.5%
$3,202/mo
P&I $2,402Taxes $600
This calculator provides estimates for informational purposes only. It is not a loan offer, pre-approval or commitment to lend. Actual rates, payments, mortgage insurance and eligibility depend on credit, income, property and program guidelines. Equal Housing Lender.
Savings depend on how your servicer applies payments.
Equal Housing Opportunity · Austin Capital Mortgage, a brand of Aspire Home Loans, LLC, NMLS #1955132. The Earned Equity Program is offered through a correspondent relationship with Arrive Home™ LLC.
For informational purposes only; not a commitment to lend, an offer of credit, or legal or tax advice. A buyer does not hold title to the home at origination; title transfers upon payoff or refinance.
Qualification is subject to underwriting approval; program terms and availability are subject to change. Not available in Alaska or New York.
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