How it works
Compare monthly amortization with 26 half-payments made annually; approximate biweekly interest at annual rate / 26.
Worked calculation
Compare monthly scheduled payments with 26 half-payments per year. For the sample inputs, the calculator displays these results:
| Normal monthly payment | $1,918.56 |
|---|---|
| Biweekly half-payment | $959.28 |
| Estimated biweekly payoff | 638 two-week payments |
| Biweekly interest (approx.) | $291,283.78 |
Assumptions and limitations
Actual lenders credit biweekly payments differently; figures are estimates.
Results update as you change inputs. The example figures are illustrative and do not represent current lender quotes or live rates. For important decisions, confirm the applicable terms with an authoritative source.
Further reading and source context
For background and independently maintained guidance, see CFPB home-buying resources. This source supplies context rather than personalized verification of the calculator output.
Biweekly payment methods differ
Twenty-six half-payments equal thirteen full monthly payments in a year, but not every servicer applies money immediately to principal. Actual savings depend on when funds are credited.
Ask the servicer first
Confirm whether the arrangement uses a third-party service, charges fees or holds partial payments until the scheduled due date.