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Half a payment every two weeks — 26 half-payments a year. Monthly principal & interest: $3,949.07.
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| # | Strategy | Monthly payment | Payoff | Interest saved |
|---|---|---|---|---|
| 01 | Refinance to 15-Year | $3,858.40 | 15.0 yrs | $727,153 |
| 02 | Extra $500/Month | $3,949.07 | 18.6 yrs | $429,489 |
| 03 | $5,000 Yearly Lump Sum | $3,949.07 | 20.0 yrs | $377,238 |
| 04 | Bi-Weekly Payments | $3,949.07 | 21.0 yrs | $345,676 |
| 05 | Recast with $25K | $3,949.07 | 23.3 yrs | $292,144 |
| 06 | Extra $200/Month | $3,949.07 | 23.5 yrs | $251,012 |
| 07 | Standard 30-Year | $3,949.07 | 30.0 yrs | $0 |
Instead of one monthly payment, you pay half the monthly amount every two weeks. That adds up to 26 half-payments per year — the equivalent of 13 full monthly payments instead of 12. The extra payment goes straight to principal.
26 half-payments per year, periodic rate = annual rate / 26, adjusted final payment. Illustration assumes each half-payment is credited when made; actual lender crediting practices vary — some servicers hold partial payments until a full payment accumulates, and some charge enrollment fees.
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Calculations are illustrative only, based on the assumptions shown. Not financial advice, not a promise of savings or payoff time, and not a loan quote.