Biweekly mortgage calculator — payment, payoff & interest saved
Use this free biweekly mortgage calculator to estimate biweekly P&I from home price and down payment, with biweekly payments selected by default. Compare against monthly on the same loan to see payoff date, months saved, and total interest difference. Optional PITI (tax, insurance, HOA, PMI), extra payments, and a full amortization schedule. For monthly-first planning, see the mortgage calculator.
How to use this biweekly mortgage calculator
- Enter home price and down payment—loan amount updates automatically.
- Set interest rate and term (years or months). Biweekly P&I is on by default.
- Optional: property tax, insurance, HOA, PMI for PITI.
- Switch to monthly in the form to compare payoff time and total interest on identical inputs.
- Review biweekly payment amount, monthly equivalent, schedule, CSV, print, or copy link.
Example: $400,000 home, 20% down, 6.5%, 30 years
Loan amount $320,000. Monthly P&I is about $2,022; biweekly half-payment about $1,011 every two weeks. With 26 biweekly periods per year, you effectively make an extra monthly payment toward principal each year—often paying off years sooner and saving substantial interest vs 12 equal monthly payments. Exact results depend on how your servicer applies funds; use this for planning.
Biweekly vs monthly mortgage payments
Monthly: 12 full P&I payments per year. Biweekly: half the monthly P&I every two weeks—26 half-payments, equal to 13 monthly payments per year. That extra principal reduces balance faster. Some employers align paychecks with biweekly schedules; others use a third-party biweekly plan—confirm fees and how payments post before enrolling.
How much interest can biweekly save?
On a 30-year fixed loan, biweekly scheduling often pays off several years earlier and saves thousands in interest versus strict monthly payments with no extras. The results panel shows months to payoff and total interest; switch to monthly on the same home price, down payment, and rate to compare. Savings shrink if you already make large extra principal payments or plan to sell within a few years.
Mortgage P&I formula (amortizing)
M = P × r × (1 + r)n ÷ ((1 + r)n − 1)
Biweekly payment shown is half of M (monthly P&I). P is loan amount from home price minus down payment; r = annual rate ÷ 12; n = months.
PITI and PMI on biweekly loans
Property tax and insurance are usually billed monthly or through escrow even when P&I is biweekly. This calculator shows P&I on your chosen cadence and adds optional monthly tax, insurance, HOA, and PMI for a PITI planning total. Down payment under 20%? Enter a PMI rate; PMI may drop when balance reaches 80% of home price.
Extra payments on top of biweekly
Add monthly, yearly, or one-time extra principal in the form to model lump sums or recurring prepayments alongside biweekly P&I. For a target payoff date from today’s balance, try the loan payoff calculator or extra payment calculator.
Frequently asked questions
How does a biweekly mortgage payment work?
Pay half of monthly P&I every two weeks—26 times per year, like one extra monthly payment annually.
How much can I save with biweekly payments?
Varies by rate and term; toggle monthly vs biweekly above to see months and interest on your numbers.
Is biweekly the same as paying extra each month?
Similar effect through timing; you can also enter explicit extras in the calculator.
Does this include taxes and insurance?
Optional annual tax and insurance fields add estimated monthly amounts to PITI.
Can I share or export?
Copy link, CSV, and print are in the schedule toolbar above this article.