Biweekly vs Monthly Mortgage Payments
Most mortgages are paid monthly, but a biweekly schedule can shorten payoff time by effectively adding an extra payment each year. Use the calculator below to compare monthly and biweekly schedules using your own loan details.
How It Works
- Monthly: 12 payments per year.
- Biweekly: 26 half-payments per year (about 13 full payments).
- The extra principal reduces the balance faster, which reduces future interest.
Realistic Example
Example: a 30-year fixed mortgage with a mid-range rate. Compare monthly vs biweekly and watch how payoff time and total interest change. For refinance break-even math, use the Refinance Calculator.
Biweekly vs Monthly Calculator
Enter purchase price before closing costs.
20% down avoids PMI in many cases.
Shorter terms increase payment but cut total interest.
Taxes & Fees
If percent, we estimate based on home price.
Biweekly means 26 payments per year.
Estimated Monthly Payment
$2,523
You save $0 in interest!
You will pay off your mortgage 30 years and 0 months sooner.
Payment Breakdown
Detailed Costs (Monthly)
Principal & Interest$2,023
Property Tax$400
Home Insurance$100
HOA Fees$0
Total Monthly$2,523
Key Insights
- Over the life of this 30-year loan, you will pay a total of $408,142 in interest.
- Your loan-to-value (LTV) ratio is 80.0%. Great job! With a down payment of 20% or more, you avoid PMI costs.
- For every $10,000 you increase your down payment, your monthly payment decreases by approximately $63.