Bi-Weekly Mortgage Payment
Lending & MortgagesMaking half the monthly mortgage payment every two weeks, resulting in one extra full payment per year and faster payoff.
Example
Example: Suppose you take out a $300,000 30-year fixed mortgage at 6.5%. Understanding bi-weekly mortgage payment helps you see how your monthly payment of approximately $1,896 is structured — and how this concept affects your total cost over the life of the loan. Use our mortgage calculator to see how bi-weekly mortgage payment impacts your specific situation.