Can you really save money on your mortgage?
Absolutely — and the best part is, it doesn’t require refinancing or negotiating a new loan. It just takes a small change in how (and when) you make your payments.

The Little-Known Secret: Biweekly Payments

Most homeowners make one mortgage payment per month — that’s 12 payments per year. But did you know that switching to a biweekly payment schedule could shave years off your loan and save you thousands in interest?

Here’s how it works:
Instead of paying your mortgage once a month, you make half-payments every two weeks. Because there are 52 weeks in a year, you end up making 26 half-payments — which equals 13 full payments each year instead of 12.

That one extra payment goes directly toward your principal balance, reducing the amount of interest you’ll pay over the life of the loan.

Realistic Example

Let’s say you have a $400,000 mortgage at a 6% interest rate over 30 years.

• Your monthly payment would be about $2,398.

• By switching to biweekly payments, you could cut 4 to 6 years off your loan term.

• That means tens of thousands of dollars saved in interest — all without increasing your overall budget.

(Exact savings depend on your loan balance, rate, and payment schedule, so always check with your lender for a personalized estimate.)

Why Lenders Don’t Usually Promote This

Biweekly payments are completely legitimate and often available through your lender — but they’re rarely advertised. Some lenders even offer automatic biweekly payment plans. Others may let you set it up yourself by scheduling extra principal payments.

The key is to make sure the extra payment goes directly toward your principal, not just held for future months.

Benefits Beyond Interest Savings

Besides saving money, this approach has other advantages:

• Faster equity growth – You’ll own more of your home sooner.

• Shorter loan term – Many homeowners cut their mortgage length by 5–8 years.

• Financial discipline – Smaller, more frequent payments can feel easier to manage.

Important Considerations

• Check for lender fees: Some banks charge a setup fee for biweekly plans.

• Avoid third-party services: Only work directly with your lender or servicer.

• Keep an emergency fund: Don’t overpay your mortgage at the expense of savings or other debt.e, know what you want in a home (budget, location, must-haves). Let your agent know so they can better help you.