How are accelerated biweekly mortgage payments calculated?
Monthly payment = P × r / (1 − (1 + r)^−n), where r = APR / 12. An accelerated biweekly payment is half that amount, charged at APR / 26 for 26 payments a year.
Money & mortgage
Bi-weekly mortgage calculator
Compare monthly and accelerated biweekly mortgage payments, interest costs, and payoff time.
- USD inputs · transparent calculation assumptions
- Instant updates as inputs change
- Data is calculated in this browser only
Assumes each half-payment is applied immediately. Ask your servicer how it handles partial payments.
Accelerated biweekly payment$948.10
- Monthly payment baseline
- $1,896.20
- Interest saved
- $88,121.78
- Monthly-plan interest
- $382,633.47
- Biweekly-plan interest
- $294,511.68
- Biweekly payoff time
- 24.15 years
- Time saved
- 70.2 months
- Annual biweekly outlay
- $24,650.65
Calculation notes
Understand the Bi-weekly mortgage calculator
Monthly payment = P × r / (1 − (1 + r)^−n), where r = APR / 12. An accelerated biweekly payment is half that amount, charged at APR / 26 for 26 payments a year. The calculation runs locally and keeps cash-flow timing consistent with the stated assumptions.
What is a biweekly payment on a $300,000 mortgage at 6.5%?
For a $300,000 loan at 6.5% over 30 years, monthly principal and interest are about $1,896.20. Paying $948.10 every two weeks makes the annual outlay about one monthly payment higher.
Why does paying a mortgage every two weeks save interest?
- The interest saving comes partly from paying more principal each year, not just changing the calendar.
- Use the monthly baseline and annual outlay together when comparing affordability.
Does a mortgage servicer apply each biweekly payment immediately?
- Actual servicers may hold partial payments until a full monthly payment is collected. Fees, escrow and daily-interest conventions are excluded.
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