Biweekly Loan Calculator

Why Biweekly Payments Work

With biweekly payments, you make half your monthly payment every two weeks — that's 26 half-payments per year, which equals 13 full monthly payments instead of 12. This extra payment each year directly reduces your principal balance, saving thousands in interest.

Real Savings Example

On a $300,000 mortgage at 6.5% for 30 years, switching to biweekly payments can save over $70,000 in interest and pay off the loan 4-5 years early. Our calculator shows your exact savings, so you can make data-driven decisions about your payment strategy.

How to Set Up Biweekly Payments

1. Contact your lender to confirm they accept biweekly payments
2. Check if there are any setup fees or restrictions
3. Some lenders offer auto-draft biweekly programs
4. Alternatively, divide your monthly payment by 12 and add it to each payment yourself