Mortgage Prepayment Calculator
Enter your loan amount, rate and term to see how a biweekly prepayment plan saves interest and time.
- Free
- No sign-up
Enter the loan amount, rate and term to see the savings.
Worked example
With these example inputs:
- Loan amount$300,000
- Interest rate6.5%
- Loan term30 yr
Biweekly payment: $948.10
- Standard monthly payment$1,896
- Total interest$295,377
- Payoff time24 yr 2 mo
- Interest saved$87,256
- Time saved5 yr 10 mo
Frequently asked questions
How does prepaying save money?
Paying half the monthly amount every two weeks adds up to one extra payment a year. That extra principal shortens the loan and cuts the total interest.
How much can biweekly payments save?
On a typical 30-year mortgage, biweekly payments often trim several years and tens of thousands in interest. The exact saving depends on your rate and balance.