Bi-Weekly Mortgage Interest Savings

Simply put a bi weekly home mortgage loan is a normal fixed rate or adjustable rate mortgage where instead of the normal monthly payments you make half a payment every other week. The net effect of this is that you end up making 13 payments in a 12-month period. The one extra payment makes a dramatic impact on the total interest paid over time.

Bi-Weekly Mortgage
This will show you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. In effect, you will be making one extra mortgage payment per year -- without hardly noticing the additional cash outflow. But, as you're about to discover, you will certainly notice the "increased" cash flow that will occur when you pay your mortgage off way ahead of schedule! Instructions: Complete the top 5 entry fields and click the "Compute" button. If you are entering data for a future mortgage, you can leave the "Current monthly mortgage payment" field blank, and the calculator will compute the payment for you.
Dollar amount of your mortgage:
Interest rate of your mortgage:
Term of your mortgage in months:
Current monthly mortgage payment:
Number of monthly payments you have already paid:


Your Current Mortgage
Dollar amount of your mortgage:
Percentage rate of your mortgage:
Your current monthly payment:
Total Interest paid:
Paid off in:
With the Bi-Weekly Plan
Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:
If You Pay an Additional $25 Every Payment
Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:
Save Even More by Paying an Additional $50 Every Payment
Your bi-weekly payment:
Total Interest paid:
Total Interest savings:
Paid off in:
Number of payments saved:
Equivalent interest rate:

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Using a third party company to make bi weekly mortgage payments.

In most cases your original mortgage lender will not accommodate a bi weekly payment method. There are companies that collect the payment from you on bi weekly bases and then make your mortgage payments to your lender.

In our opinion that is risky and expensive method. All you have to do is to take your monthly mortgage payment divide it by 12 and add the resulting number to your normal monthly payments.

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