CANADA · PAY YOUR MORTGAGE FASTER
Accelerated Biweekly Mortgage Calculator
Accelerated biweekly payments are not simply ordinary biweekly payments. They are half the regular monthly payment 26 times a year, equalling one extra monthly amount each year.
Enter your figures
Figures are calculated in this browser; entered personal amounts are not required to be sent to our servers.
Calculation results
A fixed-rate hypothetical Canadian semi-annual-compounding amortization, not a lender's renewal quote. Accelerated payments may be restricted or charged.
Estimate only. A bank, employer, tax office or lender may apply additional conditions. See the scope and source below.
When and how to use this calculator
If the standard payment is C$1,800 per month, accelerated biweekly is C$900 paid 26 times: C$23,400 a year instead of C$21,600. The extra C$1,800 may help pay off principal sooner.
- Enter the regular MONTHLY principal-and-interest portion of a mortgage payment, excluding property tax and optional insurance.
- Enter the outstanding mortgage principal and a nominal Canadian annual rate with semiannual compounding, not an effective APY.
- Check the savings under a constant-rate mortgage paid until final payoff. Your term renewal, prepayment limits and lender's rounding can cause significant differences.
Understand your result
Models a fixed nominal annual Canadian mortgage rate converted from semiannual compounding to monthly and two-week intervals, simple time steps without exact calendar dates. Not a bank payment schedule, renewal scenario or prepayment penalty estimate.
Questions people ask
Is normal biweekly the same as accelerated biweekly?
No. Ordinary biweekly is monthly amount ×12÷26; accelerated biweekly divides the regular monthly payment by two.
Does this simulate a Canadian mortgage renewal?
No. It holds a single nominal interest rate constant to final payoff. Real mortgages may renew at another rate.
Is this a guaranteed interest saving?
No. Contracts, fees, interest day-count, and prepayment rights affect results.
Reference and calculation scope
Source material is provided for independent checking. Our calculator is not a government or bank service.