Bi-weekly Payments Calculator

Did you know that you can pay off your mortgage early? By making biweekly payments you essentially pay one extra payment toward principal each year which can help you pay less in interest over time and pay off your mortgage years earlier.

Our free biweekly payment calculator can help you discover your potential interest savings as well as how early you could pay the entire loan off. Try it now.


You can pay off your mortgage years earlier and owe less interest by dividing your monthly mortgage payments in half, and paying that amount every other week. By converting to bi-weekly payments, you essentially pay one extra payment toward your principal each year. Use our calculator to see the difference between bi-weekly and monthly payments.


Enter the total amount of the loan. This would be the original amount before any payments to the principal


Enter your interest rate as a percentage.

Choose the length of the loan term you plan to use. Standard loan terms are 15 or 30 years.

Making bi-weekly payments rather than monthly payments allows you to pay one extra monthly payment ($954) toward the principal each year. Bi-weekly payments will save you $20,097 in interest, and will reduce the term of your loan from 30 years to 26.1 years.

Your estimated total interest savings is
30 year fixed loan

Pay off your home earlier with bi-weekly payments.


These calculations are tools for learning more about the mortgage process and are for educational/estimation purposes only. Calculator results are rounded down to the nearest dollar or year. Payment shown does not include taxes, insurance, or mortgage insurance (if applicable). This does not constitute an offer or approval of credit. Contact a PrimeLending home loan officer for actual estimates.

For example, a Conventional fixed rate loan with the terms purchase price of $312,500, on a loan term of 360 months, down payment of 20%, and an interest rate of 6.5%, will result in an annual percentage rate of 6.598% with $3,613 in APR fees. Rate pulled 09/02/22, rates change daily. Loans are subject to borrower qualifications, including income, property evaluation, and final credit approval.



Your mortgage payment is due each month, however, by making biweekly payments you could end up paying less in interest over the life of the loan. Plus, you stand to pay your mortgage off early. To make the math easy, you can use a bi-weekly mortgage payment calculator like the one above to see what you could save.

When you make half of your monthly payment every two weeks, you can pay down your mortgage quicker by maximizing the calendar. Instead of making 12 monthly payments, you’ll make 26 biweekly payments. How does that translate into money?

Say your monthly payment is $1,500. If you make one payment a month, you will pay $18,000 toward your mortgage over the course of the year. But, if you split your monthly payment in half and make a $750 payment every two weeks, you will end up paying $19,500 by the end of the year which is like paying an extra month. If you can do this for the life of your mortgage, you could end up shortening your mortgage by 4 years depending on your loan terms.


If your goal is to pay off your mortgage early, bi-weekly payments could help you reach it. By splitting your monthly mortgage payment in half and paying that amount every two weeks, you could shave years off the life of your loan. Plus, there will be two months where you make three payments which means at the end of 12 months, you will have made 13 months’ worth of mortgage payments.