Biweekly vs. monthly mortgage payments: Which is right for you?

Most mortgage borrowers repay their loans with a monthly payment. Since mortgages follow an amortization schedule, your payment is calculated so you can pay off the loan principal and all interest with your final payment. If you want to get ahead on your mortgage and pay it off a few years early, consider a biweekly mortgage. Paying half the monthly mortgage amount every two weeks allows you to make an extra monthly payment each year.

Biweekly and monthly mortgage payments: Defined

While most people pay their mortgage monthly, some make a biweekly payment. This allows them to pay their loan off more quickly. Some prefer it for budgeting purposes because it may match their job’s pay schedule. Both have pros and cons.

What is a monthly mortgage payment?

A monthly payment is the most common way to pay a mortgage.

The lender determines your minimum monthly payment based on the interest that accrues each month plus a portion of the principal. Each payment pays off all the interest that accrued and enough principal to make sure your loan is paid off by the end of the loan term.

Over time, the loan balance will decrease, meaning less interest accrues each month. As that happens, a larger portion of each payment will be applied toward the loan’s principal.

What is a biweekly mortgage payment?

A biweekly mortgage payment is due every other week. It’s usually for half the amount of a monthly payment. With 52 weeks in a year, a biweekly schedule means you’ll make 26 payments. If you’re paying half the monthly payment with each biweekly payment, that’s equal to 13 monthly payments a year.

Making the equivalent of 13 monthly payments a year allows you to pay off your loan early – it’s essentially a loan-term reduction.

Note that biweekly means every other week, which is different from semi-monthly, which means twice per month.

Some people choose biweekly payments because they are paid biweekly, and it makes paying the bill simpler.

Monthly vs. biweekly mortgage payments, in practice

Is it better to pay a mortgage biweekly or monthly? If you choose biweekly payments equal to half of your required monthly payment, it means you’ll be making the equivalent of one additional monthly payment per year. That speeds up repayment of your loan and allows you to pay it off more quickly.

Rocket Mortgage® provides a free amortization calculator you can use to experiment with different payment options.

Consider the example below. Imagine you purchased a home worth one $437,500 and put down 20%, meaning you got a mortgage for $350,000. If the loan’s term is 30 years and the interest rate is 6.375% (6.63% APR), this is what each payment schedule would look like.¹

The additional payments of the biweekly schedule help you pay off your mortgage much more quickly, saving almost 6 years. It also provides you more than $83,000 in interest savings.

Why do people choose biweekly mortgage payments?

There are a few reasons people choose biweekly mortgage payments.

• You can make more payments. With 52 weeks in a year, biweekly payments make for the equivalent of 13 monthly payments, meaning you’ll pay the loan off faster.
• Save money. With biweekly payments, you may pay less interest over time.
• Budgeting simplicity. If you’re paid every other week, making biweekly mortgage payments can be easier to budget for.

However, there are drawbacks. Not every lender accepts biweekly payments, though Rocket Mortgage does. You also need to consider that you’re paying more each year, which may not be affordable for everyone.

Some loans come with prepayment penalties, which you must pay if the loan is paid off early. Usually, these only apply for the first three or five years of the loan.

Other ways to make extra mortgage payments

Making biweekly mortgage payments is just one way to make additional payments toward your home loan.

• Round up monthly payments. This method is one of the simplest ways to pay extra toward your mortgage. Simply round up the amount you pay with each monthly payment. For example, if your mortgage bill is $2,867, send a check for $2,900, and the extra $37 will be applied to your principal.
• Make an extra payment annually. If you get an influx of cash, such as a gift at the holidays or an annual bonus, you can pay it toward your principal.
• Ask to make additional principal payments. Most lenders will let you make an additional principal payment. These are in addition to your regular monthly payment. Work with your lender to determine if this is an option, and if so, you can send extra cash toward your loan balance when you have the funds available.

FAQ

Understanding how biweekly mortgage payments work is important for deciding if they’re right for you.

How many years do biweekly mortgage payments save?

Biweekly mortgage payments can help you pay off your loan more quickly, but how many years they save will depend on the size of your loan and the interest rate. Using the example above of a $280,000 30-year fixed mortgage at 6.625%, biweekly payments save you nearly 6 years.

How do I pay off a 30-year mortgage in 15 years?

Paying off a 30-year mortgage in 15 years means making a lot of extra payments to reduce the principal of your loan. How much extra you need to pay will depend on the loan’s interest rate and balance, so consider using a mortgage payment calculator to see how it pencils out. You also could refinance to a 15-year mortgage.

Can you pay an adjustable-rate mortgage (ARM) biweekly?

Yes, you can make biweekly payments on an adjustable-rate mortgage. This can be a good idea because it can help you reduce your loan principal before rate adjustments begin, which can help you avoid increases in your monthly payment if rates rise.

The bottom line: Do the math before choosing to make extra payments

Biweekly mortgage payments are popular because they help you pay off your loan more quickly and may be more convenient for budgeting purposes. If you’re thinking about changing your payment schedule, use a mortgage and amortization calculator to see how much biweekly payments can save you.

If you’re looking for other ways to save money on your mortgage, refinancing it to a lower interest rate or a different loan term is another option to consider. You can explore lending options from Rocket Mortgage.

Refinancing may increase finance charges over the life of the loan.

¹ An interest rate of 6.375% (6.663% APR) is for the cost of 2.00 point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,183.55. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%. Rate valid as of December 4, 2025.