A biweekly mortgage helps reduce borrowers' overall interest costs, and the extra payment per year can help the borrower pay off the mortgage sooner and save in total interest over the life of the loan.

What is the advantage of paying mortgage twice a month?

When you make biweekly payments, you could save more money on interest and pay your mortgage down faster than you would by making payments once a month. When you decide to make biweekly payments instead of monthly payments, you're using the yearly calendar to your benefit.

Does splitting mortgage payments save money?

“What you do is take the normal 30-year mortgage you have, and instead of making the monthly payment the way you normally do, you split it down the middle and pay half every two weeks. ... Making more payments means paying your mortgage off sooner, which means paying less in interest.