Biweekly Mortgage Calculator Canada
See your accelerated biweekly payment — 26 payments a year — and how much faster you'd pay off your mortgage, calculated with Canadian semi-annual compounding.
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How It Works in Canada
Canadian fixed mortgage rates compound semi-annually, not in advance, so the monthly rate used here is (1 + annual ÷ 2)2/12 − 1. That one extra monthly payment per year goes entirely to principal — which is why accelerated biweekly shortens a 25-year amortization by roughly 3–4 years.
Estimates only — not financial advice. Confirm payment options with your lender.
Frequently Asked Questions
What is an accelerated biweekly mortgage payment in Canada?
You pay half your monthly payment every two weeks — 26 payments a year, equal to 13 monthly payments. The extra payment goes straight to principal.
How much faster will I pay off my mortgage?
On a typical 25-year amortization, accelerated biweekly payments usually shave off about 3–4 years and save tens of thousands in interest. Try your numbers above.
Regular vs accelerated biweekly — what's the difference?
Regular biweekly splits the annual cost into 26 equal parts (no extra payment). Accelerated biweekly is half the monthly payment × 26, adding one full extra monthly payment per year.
Do lenders charge extra for biweekly payments?
Most Canadian lenders offer it free, but confirm with yours — some have setup conditions.