Biweekly Mortgage Calculator
See how paying half your mortgage every two weeks pays it off years early, saves interest, and removes PMI sooner by reaching 20 percent equity faster.
Loan balance: standard vs biweekly
Total interest paid
| Year | Standard balance | Biweekly balance |
|---|---|---|
| 1 | $355,976 | $353,632 |
| 2 | $351,683 | $346,837 |
| 3 | $347,102 | $339,587 |
| 4 | $342,214 | $331,852 |
| 5 | $337,000 | $323,598 |
| 6 | $331,435 | $314,792 |
| 7 | $325,498 | $305,396 |
| 8 | $319,164 | $295,371 |
| 9 | $312,405 | $284,674 |
| 10 | $305,194 | $273,261 |
| 11 | $297,500 | $261,084 |
| 12 | $289,290 | $248,091 |
| 13 | $280,531 | $234,228 |
| 14 | $271,185 | $219,437 |
| 15 | $261,213 | $203,655 |
| 16 | $250,573 | $186,816 |
| 17 | $239,221 | $168,849 |
| 18 | $227,108 | $149,679 |
| 19 | $214,184 | $129,225 |
| 20 | $200,395 | $107,401 |
| 21 | $185,682 | $84,116 |
| 22 | $169,984 | $59,271 |
| 23 | $153,234 | $32,763 |
| 24 | $135,363 | $4,479 |
| 25 | $116,295 | $0 |
| 26 | $95,950 | $0 |
| 27 | $74,242 | $0 |
| 28 | $51,081 | $0 |
| 29 | $26,368 | $0 |
| 30 | $0 | $0 |
How it's calculated
Paying half your mortgage every two weeks quietly does two powerful things. The 26 half-payments a year add up to 13 monthly payments instead of 12, so one extra payment a year goes to principal. And because your balance falls faster, you reach 20 percent equity sooner, which lets you drop private mortgage insurance ahead of schedule.
Take the default. A $400,000 home with 10 percent down is a $360,000 loan at 6.5 percent. The monthly principal and interest is $2,275.44, so the biweekly payment is $1,137.72. Switching to biweekly pays the loan off about 70 months early and saves $104,708 in interest. On top of that, you hit 20 percent equity around month 65 instead of month 95, so you shed PMI 30 months sooner.
The interest savings come from the one extra payment a year, which you could also make yourself by adding a twelfth of your payment to each month. The earlier PMI removal is a bonus that most biweekly calculators miss. Before paying for a biweekly service, check that your lender applies extra payments to principal right away, and remember to request PMI removal once you cross 20 percent equity.
Assumptions
- The biweekly plan is modeled as one extra monthly payment a year, added as an extra twelfth of the principal-and-interest payment each month.
- PMI is removed when the balance reaches 80 percent of the home price. Assumes your lender applies extra payments to principal right away.
Last updated: 2026-08-08
These assumptions follow our general methodology.
Frequently asked questions
How does a biweekly mortgage save money?
Paying every two weeks means 26 half-payments a year, which equals 13 full monthly payments instead of 12. That extra payment goes to principal, so the balance falls faster and you pay less interest over the life of the loan.
Does biweekly really remove PMI sooner?
Yes. Private mortgage insurance comes off once you reach 20 percent equity. Because biweekly payments pay down principal faster, you cross that line sooner, often a couple of years early, and can stop paying PMI ahead of schedule.
Do I need to sign up with my lender?
Not necessarily. Some lenders and third parties offer biweekly plans, sometimes for a fee. You can usually get the same interest savings by adding a twelfth of your payment to each monthly check, as long as the extra goes to principal.
Will biweekly payments fit my budget?
They often fit well, since half payments line up with biweekly paychecks. Just confirm your lender applies the halves right away rather than holding them, and that there are no fees that eat into the savings.