Paying off your mortgage faster sounds like a dream, right? But what if you could do it without refinancing, without paying extra fees, and without making radical changes to your lifestyle? That’s exactly what biweekly mortgage payments offer.

Here’s the kicker: most homeowners don’t realize this simple switch could save them tens of thousands of dollars in interest over the life of their loan. And if you’re on a fixed income or budget-conscious, this strategy can help you gain financial momentum with minimal disruption.

Let’s break it down together.

Key Takeaways:

• Biweekly mortgage payments can reduce total interest paid and shorten your loan term.
• This strategy works without refinancing or extra fees from most lenders.
• Aligning payments with your pay schedule can build discipline and savings.
• Ideal for borrowers seeking a simple way to accelerate mortgage payoff.
• Compliance-approved guidance with helpful links to trusted mortgage resources.

What Are Biweekly Mortgage Payments?

Instead of making one full mortgage payment per month (12 payments per year), biweekly payments split your monthly payment in half and pay every two weeks, resulting in 26 half-payments, or 13 full payments per year.

That extra payment? It goes straight toward the principal, reducing interest owed.

Quick Example:

• $400,000 mortgage
• 6.5% interest
• Monthly: $2,528
• Biweekly: $1,264 every two weeks
• Interest saved: $80,000+ over the life of the loan
• Loan shortened: ~5 years

Why Biweekly Payments Work (and When They Don’t)?

Pros:

• Interest Savings: You pay less total interest thanks to more frequent payments.
• Faster Payoff: You build equity faster and finish your loan years early.
• Budget-Friendly: Aligns with biweekly paychecks for easy cash flow management.
  
  

Heads Up:

• Not all lenders accept biweekly plans without third-party setup (some charge fees).
• Ensure that extra payments are applied to the principal, not future interest.
• Skipping payments during tough months could result in the cancellation of the benefit.
  
  

Pro Tip: Always confirm with your lender how biweekly payments are applied.

How to Set Up Biweekly Mortgage Payments?

1. Ask Your Lender: Do they allow in-house biweekly payments? Is there a fee?
2. Manual Payments: If not, set up two automatic payments monthly (e.g., 1st and 15th).
3. Budget for the Extra Payment: Save a little each month to cover the 13th payment.
4. Track Your Progress: Use amortization tools or apps to watch your balance drop.

FAQs

Do biweekly payments hurt my credit?

Not at all. Consistent on-time payments may help boost your credit.

Can I switch back to monthly payments later?

Yes. You control your schedule. Just make sure your lender knows.

What if I get paid monthly?

Biweekly still works; you’ll just need to budget for the two smaller payments instead of one big one.

Is this better than refinancing?

It depends. Biweekly payments cost less and have fewer hurdles. Refinancing can lower your rate, but it comes with closing costs.

Will this work on all loan types?

Yes! Biweekly payments work on FHA, conventional, jumbo, Non-QM loans, and more.

Conclusion: Want to Pay Off Sooner Without Paying More? Start Here.

If you're serious about financial freedom and home equity, biweekly payments are a no-brainer. And if you're looking for a frictionless, commission-free homebuying and financing journey, check out realpha and Be My Neighbor Mortgage, where smart tools and smarter strategies meet.

Realpha offers a commission-free homebuying experience, so you get more for your money and more money working for you.

Be My Neighbor, NMLS #1743790, provides education-first lending that empowers every borrower, no matter their background or loan type.

Want to learn how much you could save, or need help setting up your payment plan? Our experts are just a click away.

Check out now and start comparing options with confidence.

Required Disclosures:

• This content is for educational purposes only and does not constitute financial advice.
• Mortgage savings depend on loan amount, interest rate, loan term, and payment discipline.
• Realpha and Be My Neighbor are affiliated partners.
• NMLS #1743790 (Be My Neighbor Mortgage)

All financial calculations are estimates. Confirm with your lender or financial advisor.