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Biweekly Mortgage Payment Calculator for an Existing Mortgage

Enter your current mortgage

Use the figures on your latest mortgage statement.

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Leave out escrow for taxes and insurance.

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Property tax and insurance collected with your payment. It is split into the biweekly drafts but does not change the payoff.

Ask your servicer. Many third-party programs collect every two weeks but only pay the lender once a month.

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More options
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Added on top of half your monthly payment, every two weeks.

Switching to biweekly

Each biweekly draft

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Paid off sooner by

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Interest saved

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Savings after fees

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Your loan from today

Payoff paying monthly–
Payoff paying biweekly–
Interest left, monthly–
Interest left, biweekly–
Total biweekly fees–
Interest saved by adding 1/12 of a payment each month yourself–

Year by year from today

Balance at the end of each year from now and the interest paid in that year, staying monthly versus switching to biweekly.

YearMonthly: interestMonthly: balanceBiweekly: interestBiweekly: balanceBalance difference

Results are estimates for educational purposes and are not financial, tax or legal advice.

Start from your current balance, rate and monthly payment to see how much switching to biweekly payments saves from today, how the way payments are applied changes the result, and whether setup and per-payment fees eat the savings. Try the amortization calculator online to run your own numbers — everything is calculated in your browser and nothing you enter is stored or sent anywhere.