Bi-Weekly Mortgage Payments
Paying half your monthly mortgage payment every two weeks adds up to 26 half payments a year, which is the same as one extra monthly payment. Enter your loan to see how much time and interest that could save.
About these numbers
Assumes a fixed rate, the full term, and that each half payment is applied to the loan when it is made, with interest charged every two weeks at one twenty-sixth of the annual rate. Some servicers hold partial payments until a full payment arrives or charge a fee for bi-weekly plans, which would change the results. Principal and interest only; taxes and insurance are not included. The rate is a hypothetical example.
This calculator is a hypothetical illustration for educational purposes only. Results are based on the assumptions you enter and the method described above, may vary with each use and over time, do not reflect any specific investment or the deduction of fees or taxes unless stated, and are not a guarantee of future results. The tool does not consider every investment, account type, or strategy that may be available to you. It is not investment, tax, or legal advice. Investing involves risk, including possible loss of principal. 4:8 Financial does not provide tax or legal advice; please consult your CPA or attorney regarding your specific situation.
Have a question about this?
A calculator can only go so far. We are happy to walk through your real numbers with you, at no cost.