Calculate Your Savings on Your Mortgage Using Biweekly Payments

Use This Simple Trick to Cut Years Off Your Mortgage


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Want in on a secret? I’m kind of surprised how many people haven’t thought of this!

There’s an easy trick to pay off your mortgage early without a refinance.

I’m talking shaving YEARS off your term WITHOUT really feeling a difference. This is seriously the most brilliant way to pay off your mortgage early.

Here’s the trick.


Bi-weekly mortgage payments.

Normally you’d pay your mortgage monthly, so 12 payments per year. To pay bi-weekly you simply split your monthly payment in half and pay every two weeks.

Pure genius! 

By paying every two weeks you are making 26 half payments, or 13 monthly payments a year. You’ve magically added an extra payment every year!

The best part? This one small change alone will save you YEARS off your mortgage.

Try my calculator at the end of this post

The amount you save will depend on the terms of your mortgage: duration, interest, interest type, etc.

Want to double down and save even more?​

Another sneaky trick is to pay an extra small amount per bi-weekly payment. Can you add an extra $50 or $100 to your payment? Yes, friends, this can also take a few extra years off your mortgage payment.

Taking years off your mortgage also means years of saving on interest and payments. That can add up to thousands or tens-of-thousands of dollars in savings.

How we did it​

  • We made payments every other week.
  • We also paid an extra $100 per bi-weekly payment.
  • This added up to paying 1 full extra month PLUS an extra $2,600 per year. It saved us 9 years of payments and thousands upon thousands of dollars in interest!​

Some considerations ...

Due Date

Make sure the second bi-weekly payment you make happens BEFORE your monthly payment is due so you do not get behind and incur late penalties.

For example: If your payment is due on the February 1st the 2 bi-weekly payments you make in January will pay February’s mortgage payment. You would be paying in advance.

Do you get paid bi-weekly?

We get paid bi-weekly so it was an effortless transition for us. If you are paid weekly, twice monthly or monthly you can still set up your payments to be bi-weekly. Divide your payment in half and schedule payments every other week. Just remember to make sure the second payment is made before your due date.

Do you have other debt to pay off?

While paying off your house early is awesome-sauce, you probably should focus on paying off other debt first. Your house is likely your biggest debt, so you should be able to pay off other debts much faster. Once your other debt is taken care of, then focus on paying your house off early.

Do you plan to live in your house for a while?

If you are not planning to stay in your house forever, you’ll want to make sure early pay-off would be beneficial before you start. If you are planning to move soon there are probably better things you could do with your extra money.

Do the terms of your mortgage allow for bi-weekly payment or early payoff?

Some terms that you might want to watch out for are early payoff fees and balloon payments that are coming due. 

There are a lot of variables, too many to cover here, so make sure you know your terms.

Bi-weekly Mortgage Calculator

Use this bi-weekly mortgage calculator and add any extra payments you can make to determine how much time, interest and payments you can save.

Mortage Info

Note: Your P&I is different from your "Payment. Please see your mortgage statment to get your P&I

Calculator Tutorial

Watch the tutorial for more information and to show you how we came up with the calculated results. There's more to saving than just interest, make sure you check out the video for a full explanation of how much you'll save by switching to bi-weekly mortgage payments.

Paying off your mortgage early without a refinance is possible when you make biweekly payments and additional payments on your mortgage. Use the biweekly mortgage calculator to see how much money you can save.

Cameron is a Financial Coach who works with couples and individuals to achieve financial freedom and peace of mind. She believes being in control of money = less stress + more fun! Join her on the journey to think about money less and enjoy life more.