Bi-Weekly Payment Calculator
Pay half your monthly payment every two weeks: 26 half payments a year add up to one extra monthly payment, cutting years and interest off your mortgage.
Ask your lender whether it applies biweekly payments as they arrive; some charge a setup fee. Paying 1/12 of a payment extra each month has the same effect.
Monthly payment$2,543
Biweekly payment$1,271
Paid off in23 years 7 months
Time saved6 years 5 months
Interest saved$134,776