A biweekly mortgage is a mortgage where the borrower makes payments every two weeks instead of once a month. Since there are 52 weeks in a year, this results in 26 half-payments, which equals 13 full monthly payments per year instead of the usual 12.

• Pay off your mortgage faster: Making an extra payment each year can shave years off your loan term
• Save on interest: By paying more principal each year, you reduce the amount of interest paid over the life of the loan
• Build equity faster: With each extra payment, more of your money goes toward the principal balance
• Better budgeting: Many people find it easier to budget for smaller, more frequent payments

• Not all lenders offer biweekly payment options
• Some lenders charge fees to set up biweekly payments
• Make sure your extra payments are applied to principal immediately
• Biweekly payments require more frequent budgeting
• Ensure you have enough cash flow to support the more frequent payments

If your lender doesn't offer biweekly payments or charges fees for them, consider these alternatives:

• Make one extra payment per year: Simply make one additional mortgage payment each year
• Round up your payments: Round up your monthly payment to the nearest 100
• Pay an extra amount each month: Add a specific amount to each monthly payment
• Use annual windfalls: Use tax refunds, bonuses, or other annual income to make extra payments