Bi-Weekly Mortgage Calculator
See exactly how much interest and time you save by switching from monthly to accelerated bi-weekly mortgage payments — the equivalent of one extra full payment every year.
Your results will appear here
Fill in your loan details to see how much interest and time accelerated bi-weekly payments could save.
Your savings summary
| Metric | Monthly payments | Accelerated bi-weekly |
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Amortization schedule
| Period | Payment | Principal | Interest | Extra | Balance |
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How accelerated bi-weekly payments work
A standard mortgage bills you 12 times a year. An accelerated bi-weekly plan instead bills you exactly half your monthly payment every two weeks. Since a year has 52 weeks, that works out to 26 half-payments — the equivalent of 13 full monthly payments instead of 12. That extra payment goes straight to principal, which is what generates the interest savings and shortens your loan.
26 half-payments/year
Half your usual monthly payment, taken every two weeks, lines up with a biweekly paycheque and feels painless — but adds up to one extra payment annually.
Not the same as "bi-weekly"
Plain (non-accelerated) bi-weekly billing that simply divides the same annual total by 26 saves nothing. Make sure any plan you enroll in is explicitly "accelerated."
You can DIY it for free
If your lender charges a fee for an official bi-weekly program, you can replicate the exact same result by adding 1/12th of your monthly payment as a recurring extra amount each month.