Bi-Weekly Mortgage Payments: The "Secret" to Saving $50,000 in Interest

Bi-weekly payments add one extra payment

Paying half your mortgage every two weeks results in 26 half-payments, which equals 13 full payments per year. That extra payment knocks down principal faster.

Interest savings example

On a $350,000 loan at 7%, bi-weekly payments can save tens of thousands in interest and shorten the term by 4-6 years. The exact number depends on your rate and start date.

Tips to set it up

• • Confirm your lender credits payments immediately.
• • Avoid third-party programs that charge unnecessary fees.
• • Set calendar reminders to avoid missing a payment.