Biweekly Payment Calculator — Mortgage & Auto Interest Savings

With true biweekly payments, you pay half the monthly amount every two weeks — 26 half-payments per year equals 13 full monthly payments instead of 12. That extra annual payment goes to principal, shortening a 30-year mortgage by several years and saving substantial interest. Some servicers offer biweekly programs for a fee; you can replicate the effect by adding one-twelfth of a payment to each monthly payment instead.

Savings depend on loan amount, rate, and term. On a $320,000 mortgage at 6.5% over 30 years, biweekly payments can save tens of thousands in interest and pay off the loan roughly four years early compared with standard monthly payments. Auto loans see smaller absolute savings but meaningful months removed on high-balance loans.

Yes, if your lender posts payments when received. Splitting a $600 monthly car payment into $300 every two weeks adds an extra $600 per year toward principal. Shorter auto terms mean less total interest than mortgages, but biweekly still cuts months off 60- or 72-month notes. Confirm your lender applies partial payments to principal rather than holding them in suspense.

Biweekly is every 14 days (26 periods per year). Twice-monthly is two payments on fixed dates each month (24 periods). Only true biweekly creates the extra annual payment because 26 half-payments exceed 12 full payments. Twice-monthly pays the same total as monthly unless you add extra principal separately.

Many third-party biweekly services charge setup and per-payment fees for something you can do free by adding extra principal monthly or making one extra payment per year. This calculator shows the math so you can decide whether to enroll in a program or self-manage extra payments through your lender's online portal.