A biweekly mortgage means paying half your monthly payment every two weeks. Because a year has 52 weeks, that adds up to 26 half-payments, or 13 full payments, instead of 12. The extra payment goes straight to principal, which shortens the loan and cuts total interest. The savings are real, but you don't need a special program to get them.
How much it saves
Example: a $350,000 loan at 6.5% for 30 years. The monthly payment is $2,212, so the biweekly payment is $1,106.
| Monthly payments | Biweekly payments | Monthly + $200 extra | |
|---|---|---|---|
| Paid per year | $26,547 | $28,759 | $28,947 |
| Payoff time | 30 years | about 24 years 2 months | about 23 years 10 months |
| Total interest | $446,406 | about $344,600 | about $338,300 |
| Interest saved | — | about $101,800 | about $108,100 |
The biweekly column assumes the extra payment is applied to principal as it builds up during the year. Lenders that apply each half-payment the day it arrives save you slightly more.
Watch out for fees and "suspense" accounts
- Third-party programs. Some companies charge a setup fee of several hundred dollars plus a fee on every payment. Those fees can take a large share of the savings, and some hold your money until the full monthly payment is due.
- Partial payments. Many servicers don't accept half-payments and put them in a suspense account until the second half arrives. You still get the benefit of the 13th payment, but not of paying earlier.
- Confirm in writing. Before you start, ask your servicer whether it offers a free biweekly option and how extra money is applied.
Three free ways to get the same result
- Add one-twelfth. Add 1/12 of your payment ($184 in the example) to each monthly payment and mark it "principal only". The result is almost identical to biweekly.
- One extra payment a year. Send a 13th payment each year, for example from a tax refund or bonus.
- Round up. Paying $2,400 instead of $2,212 is simple to automate and saves even more.
See the exact effect for your loan with the biweekly mortgage calculator or the extra payment calculator.
Is it worth it?
If you are paid every two weeks, biweekly payments match your cash flow and quietly pay the loan off years early. Before putting extra money into the mortgage, make sure you have an emergency fund, no high-interest debt, and you are getting any employer retirement match. At a rate of 6% or more, extra principal is a solid guaranteed return. At 3%, investing the difference has usually come out ahead over long periods.
Published September 23, 2026. Figures are estimates for education only, not financial advice; program rules and rates change, so confirm with a licensed lender. Spotted an error? Let us know.