Bi-Weekly vs Monthly Mortgage Payment
Half the monthly payment every two weeks adds up to 13 full payments per year instead of 12. That one extra payment compounds. Estimates only
Your Numbers
How bi-weekly works: pay half of your monthly payment ($1,106) every two weeks. Because there are 52 weeks in a year, that's 26 half-payments, or 13 full monthly payments per year instead of 12.
Side-by-Side
Monthly
$2,212 /mo
12 payments per year
- Payoff in: 30.0 years
- Total interest: $446,406
Bi-Weekly
$1,106 /2 wks
26 half-payments = 13 monthly per year
- Payoff in: 24.2 years
- Total interest: $344,607
Bi-weekly savings
$101,799
Total interest saved. Loan pays off 5.8 years earlier.
Total interest paid over the life of the loan
Monthly$446,406
Bi-weekly$344,607
The honest version: not every lender natively accepts a bi-weekly payment schedule. Some servicers hold the half-payment until a full monthly payment accumulates, which defeats the purpose. The easiest way to capture the same savings without a special program is to make ONE extra full monthly payment per year, applied to principal. Ask your servicer before signing up for a paid bi-weekly program; some charge a fee for what you can do yourself for free.
Modeled as 12 monthly payments plus 1/12 extra principal each month, which produces the same annual outflow as 26 half-payments. Actual bi-weekly programs may differ.
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Estimates only. Actual rates, fees, and outcomes vary. Not a commitment to lend. All loans subject to qualification. Equal Housing Opportunity.