LOANS & MORTGAGES CHANNEL
Biweekly Mortgage Calculator
Calculate standard savings achieved by making biweekly payments.
Calculator Variables
Calculation Overview
Calculate how making biweekly mortgage payments instead of monthly payments shortens your mortgage term.
Mathematical Model & Formula
Biweekly loop with 26 periods/yr
Simulates 26 half-payments annually to accelerate loan amortization.
Variables Defined:
Worked Example Scenario
Scenario: Standard 30 year mortgage at 6.5%.
- Calculates 26 periods compounding.
Result: Cuts years off loan life.
Frequently Asked Questions
Why does biweekly save money?
Paying biweekly means making 26 half-payments (or 13 full payments), resulting in one extra full payment applied directly to principal each year.