Bi-Weekly Payment Loan Calculator

What is a Bi-Weekly Payment Loan

Bi-weekly payment loan is a mortgage loan payment plan where the borrower makes payments toward his/her principal and interest every two weeks instead of once monthly. The Biweekly payment is exactly one half of the amount a monthly payment would be.

It is a great way to reduce your interest liability and shave off the number of years for which you have to serve the loan. But remember, there is nothing like magic in it. It is all about self discipline and increasing the payments per year so that the outstanding principal against your loan is reduced and correspondingly the interest burden is also reduced.

Bi-Weekly Payment Calculator

First you need to understand the concept behind the bi-weekly loans and then everything gets clear. You just have to divide your monthly payment by two and pay it after every two weeks. Now since, one year has 52 weeks, you make a total of 26 bi-weekly payments. This means in the whole year, you effectively end up paying 26/2 = 13 monthly payments instead of 12 payments, which you would have otherwise paid in your regular amortized payment plan.

This extra installment reduces your interest burden and ensures that your debt is quickly paid off.

Here we present a simplified version of bi-weekly payment calculator. Please note that it is a true bi-weekly payment calculator, which operates on a slightly different concept than that described above. Instead of dividing the monthly payment by 2, it actually calculates the true bi-weekly payment as if the amortization schedule is divided in two weeks’ periods.

This calculator will allow you to calculate the amount, which you will need to pay bi-weekly. You can also calculate the total payments to be made and also the total interest liability to be paid in the entire duration of the loan.

Inputs Required to be Entered

Following inputs are required to be entered to run this Bi-weekly payment loan calculator.

  1. Sale Price: The sale price for your property. (NOT the amount of money you plan to borrow.)
  2. Down Payment: The amount of money you plan to put as a down payment on your property.
  3. Interest Rate: The annual percentage rate you will pay for this loan.
  4. Length of Loan (Years): How long you will pay on this loan.


Output Results Calculated by Housing Expense Ratio Calculator

Following results will be given after calculations.

  1. Loan Amount: The total loan amount you will have to take.
  2. Bi-Weekly Payment: The actual b-weekly payment you have to make.
  3. Total Payments: Total amount you will end up paying.
  4. Total Interest: Total amount of interest you will pay over ‘Length of Loan’.
  5. Total Number of Payments: The number of payments you will make to pay off the loan.
  6. Total Annual Cost: The amount of money you will pay each year for this loan.
Leave a Reply

Contact Us

Contact Page: Click here


Lots of approximations and assumptions have been made while developing the calculators.

Please make your own calculations before making any financial decision.