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What are Bi-weekly Payments?

Build Equity FAST with Bi-Weekly Payments

This chart shows you how much you will save if you make 1/2 of your mortgage payment every two weeks instead of making a full mortgage payment once a month. Many of our lenders offer such a program - the half-payment is debited directly from your bank account every 2 weeks.

If you choose to make additional payments toward the principal of the loan, you will see even greater savings and you will pay the loan off much sooner than anticipated. In fact, many of our borrowers can use their savings (from a refinance) to pay down the principal (including the debt they refinanced) and be TOTALLY debt free within 10 years.

The amortization schedule on the left shows bi-weekly payments, the amortization schedule on the right shows monthly payments. Both loans assume the same original balance and a rate of 7.900%.

Year	PMT	TOTAL	BALANCE	PMT	TOTAL	BALANCE
1	$799	$20.787	$216.461	$1,599	$19,188	$218,125
2	$799	$41.573	$212.631	$1,599	$38,375	$216,097
3	$799	$62.360	$208.487	$1,599	$57,563	$213,903
4	$799	$83.147	$204.003	$1,599	$76,751	$211,529
5	$799	$103.933	$199.151	$1,599	$95,938	$208,960
6	$799	$124,720	$193,900	$1,599	$115,126	$206,181
7	$799	$145,506	$188,219	$1,599	$134,314	$203,175
8	$799	$166,293	$182,071	$1,599	$153,501	$199,922
9	$799	$187,080	$175,419	$1,599	$172,689	$196,402
10	$799	$207,866	$168,221	$1,599	$191,887	$192,594
11	$799	$228,653	$160,432	$1,599	$211,064	$188,475
12	$799	$249,440	$152,004	$1,599	$230,252	$184,017
13	$799	$270,226	$142,884	$1,599	$249,440	$179,195
14	$799	$291,013	$133,015	$1,599	$268,627	$173,978
15	$799	$311,800	$122,337	$1,599	$287,815	$168,333
16	$799	$332,586	$110,782	$1,599	$307,003	$162,225
17	$799	$353,373	$98,279	$1,599	$326,190	$155,618
18	$799	$374,159	$84,749	$1,599	$345,378	$148,469
19	$799	$394,946	$70,109	$1,599	$364,566	$140,734
20	$799	$420,733	$54,268	$1,599	$383,753	$132,365
21	$799	$436,519	$37,126	$1,599	$402,941	$123,311
22	$799	$457,306	$18,577	$1,599	$422,129	$113,516
23	$799	$475,883	$0	$1,599	$441,316	$102,918
24	$0	$475,883	$0	$1,599	$460,504	$91,451
25	$0	$475,883	$0	$1,599	$479,692	$79,045
26	$0	$475,883	$0	$1,599	$498,879	$65,623
27	$0	$475,883	$0	$1,599	$518,067	$51,101
28	$0	$475,883	$0	$1,599	$537,255	$35,390
29	$0	$475,883	$0	$1,599	$556,442	$18,391
30	$0	$475,883	$0	$1,599	$574,833	$0

Loan Info	Need to Know	Investments
About Loans	Avoiding Foreclosure	Diversify your Portfolio
Closing Costs	Credit Counseling Services	Get Back on Track
Equity Builder	Debt Consolidation	Invest to Win
Escrow	Reasons to Refi	Investment Properties
Locking Your Rate	Refinancing Tips	Mutual Fund Crash?
Mortgage - 10 Do's & Dont's	SFR Rental Properties	Mutual Fund Terms
Qualifying for Loans	Should I Refinance?	Top 401k Mistakes
What Length Mortgage?	Improve Your Credit	I Want to Retire Early
Stress-Free Refi	Improve Your Finances