One of the simplest mortgage hacks: switch from monthly to biweekly payments and save tens of thousands in interest. Here's how it works.
The Math Behind Biweekly Payments
With monthly payments, you make 12 payments per year. With biweekly payments (half your monthly payment every two weeks), you make 26 half-payments = 13 full payments per year. That extra payment goes entirely to principal, dramatically reducing your total interest.
Real Savings Example
On a $300,000 30-year mortgage at 6.5%: Monthly payment of $1,896 over 30 years = $382,633 in total interest. Biweekly payment of $948 every two weeks = payoff in ~25 years, saving approximately $67,000 in interest and eliminating 5 years of payments.
How to Set It Up
Some lenders offer formal biweekly programs (sometimes with fees — avoid these). The free alternative: simply make one extra mortgage payment per year, or add 1/12 of your monthly payment to each regular payment. The effect is identical.
See your exact savings with our biweekly mortgage calculator.