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Calculate Savings with Bi-Weekly Payments

You can pay off your mortgage years earlier and owe less interest by dividing your monthly mortgage payments in half, and paying that amount every other week. By converting to bi-weekly payments, you essentially pay one extra payment toward your principal each year. Use our calculator to see the difference between bi-weekly and monthly payments.

$

Enter the total amount of the loan. This would be the original amount before any payments to the principal.

%

Enter your interest rate as a percentage.

Choose the length of the loan term you plan to use. Standard loan terms are 15 or 30 years.

CALCULATE
By making bi-weekly payments, you will pay off your house 4 years earlier.
Your estimated total interest savings is

30 year fixed loan

These calculations are tools for learning more about the mortgage process and are for estimation purposes only. Payment shown does not include taxes, insurance, or mortgage insurance (if applicable). This does not constitute an offer or approval of credit. Contact a PrimeLending home loan officer for actual estimates.

For example, a Conventional fixed rate loan with a loan amount of $200,000, on a loan term of 360 months, with a credit score of 740+, down payment of 20%, and an interest rate of 3.375%, will result in an annual percentage rate of 3.452%. Rate pulled 6/18/20, rates change daily. Loans are subject to borrower qualifications, including income, property evaluation, and final credit approval.

Making bi-weekly payments rather than monthly payments allows you to pay one extra monthly payment () toward the principal each year. in interest, and will reduce the term of your loan from 30 years to XX.X years.

 
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