Accelerated Bi-Weekly Mortgage Calculator — Save Years of Interest
Simply switching from monthly to accelerated bi-weekly payments knocks 3–4 years off a 25-year mortgage with zero pain — your payment size barely changes. This calculator uses Canada's legally required semi-annual compounding formula, not the US monthly version.
What you'll need
- Home price and down payment
- Your mortgage interest rate
- Amortization period (20, 25, or 30 years)
How it works
Enter home price, down payment, and rate
We calculate your exact Canadian semi-annual compounded mortgage payment — the legally required method for Canadian mortgages.
We calculate all three payment options
Monthly payment, regular bi-weekly (same annual total as monthly), and accelerated bi-weekly (one extra month's payment per year).
See years saved and total interest difference
Accelerated bi-weekly typically saves 3–4 years on a 25-year mortgage and tens of thousands in interest with no change to payment size.
Monthly vs Accelerated Bi-Weekly: $700,000 Home, 5.49%, 25yr
| Payment Type | Payment | Payoff | Total Interest |
|---|---|---|---|
| Monthly | $3,440 | 25.0 years | $332,000 |
| Regular bi-weekly | $1,720 | 25.0 years | $332,000 |
| Accelerated bi-weekly | $1,720 | 21.5 years | $284,000 |
Accelerated bi-weekly saves 3.5 years and $48,000 in interest. Payment amount is identical to regular bi-weekly.
Frequently asked questions
What is the difference between regular and accelerated bi-weekly mortgage payments?
Regular bi-weekly: you pay half your monthly payment every two weeks — 26 payments per year, the same annual total as monthly. Accelerated bi-weekly: you also pay half your monthly amount every two weeks, but because 26 × (monthly/2) > 12 × monthly, you effectively make one extra monthly payment per year. This is what cuts years off your mortgage.
How many years does accelerated bi-weekly save on a Canadian mortgage?
On a 25-year mortgage at 5.49% with a $560,000 balance, accelerated bi-weekly typically saves 3–4 years and $40,000–$60,000 in interest. The exact savings depend on your rate, balance, and amortization.
Does accelerated bi-weekly work the same in Canada as the US?
The concept is the same but the math differs. Canadian mortgages compound semi-annually (not monthly like US mortgages), so the interest calculation uses the formula: effective monthly rate = (1 + annual rate / 200) ^ (1/6) − 1. Our calculator uses the correct Canadian formula.
Can I switch to bi-weekly payments on my existing Canadian mortgage?
Most Canadian lenders allow you to switch to bi-weekly or accelerated bi-weekly at no cost. Contact your lender or make the change through online banking. This is usually available outside of the term commitment with no penalty.
See exactly how many years and dollars you save.
Calculate My Savings →