Biweekly mortgage payments are the single highest-leverage move most homeowners can make. Pay half your monthly payment every two weeks and you make 26 half-payments per year — equal to 13 full payments. That extra payment goes 100% to principal.
How does the biweekly schedule actually work?
52 weeks ÷ 2 = 26 biweekly periods. 26 × half-payment = 13 full payments. A monthly schedule is only 12 payments. The extra payment crushes principal.
How much do biweekly payments save?
On a $320,000 / 6.5% / 30-year loan: about $58,000 in interest and 5+ years off the term. Use our Biweekly Calculator.
How do I set up biweekly payments correctly?
Call your servicer — many will set this up for free. Avoid third-party "biweekly conversion" services that charge $300+ for what your servicer does free.
What if my lender won't do biweekly?
Just pay 1/12 extra each month. Same effect.