Biweekly Mortgage Calculator
Calculate biweekly mortgage from your own entered figures.
Loading calculator…
Currency: Amounts are calculated in the currency you select; this site does not convert between currencies and does not use live exchange rates.
What this tool does
Calculate biweekly mortgage from your own entered figures. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
How to use the Biweekly Mortgage Calculator
- Enter or select loan amount.
- Enter or select annual interest rate (%).
- Enter or select term (months).
- Read the calculated result; change any measurement to compare alternatives.
Formula
biweekly payment = half the monthly payment, paid 26 times a year (the equivalent of 13 monthly payments); simulate every two weeks with interest accruing at the annual rate × 14/365 per period and compare against the monthly schedule
- loan
- Loan amount
- rate
- Annual interest rate (%)
- termMonths
- Term (months)
True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
Worked example
For biweekly mortgage calculator, the following measurements illustrate the exact method: Loan amount: 320000; Annual interest rate (%): 6.5; Term (months): 360.
Inputs
- Loan amount$320000
- Annual interest rate (%)6.5 %
- Term (months)360
Result
- Biweekly payment$1,011.31
- Standard monthly payment$2,022.62
- Interest with biweekly payments$311,695.06
- Interest with monthly payments$408,142.36
- Interest saved$96,447.31
- Time to pay off (biweekly)24 years 0 months
- Time to pay off (monthly)30 years
Results explained
- Biweekly payment
- Biweekly payment from the formula above. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
- Standard monthly payment
- Standard monthly payment from the formula above. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
- Interest with biweekly payments
- Interest with biweekly payments from the formula above. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
- Interest with monthly payments
- Interest with monthly payments from the formula above. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
- Interest saved
- Interest saved from the formula above. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
- Time to pay off (biweekly)
- Time to pay off (biweekly) from the formula above. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
- Time to pay off (monthly)
- Time to pay off (monthly) from the formula above. True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
Frequently asked questions
biweekly payment = half the monthly payment, paid 26 times a year (the equivalent of 13 monthly payments); simulate every two weeks with interest accruing at the annual rate × 14/365 per period and compare against the monthly schedule
True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.
No. All numbers are entered by you or come from the dated reference table shown on this page; calculations run locally.
This is an estimate, not financial, tax or legal advice. Verify the inputs and output with official sources and a qualified professional.
Check period consistency, currency, percentage inputs and the assumptions: True biweekly schedule (26 periods a year) with per-period interest at 14/365 of the annual rate. Some servicers instead run semi-monthly (24) schedules, which save less.