RateReset Canada guide
Monthly versus accelerated biweekly mortgage payments
Compare annual cash flow, interest, and payoff timing across payment schedules.
The annual total is the difference
Regular biweekly is calculated over 26 payments. Accelerated biweekly commonly divides the monthly payment by two and pays that amount 26 times, creating one extra monthly-payment equivalent each year.
Savings come from paying more
Principal falls sooner because annual payments are higher. The result is not a special interest rate. A comparable monthly prepayment can produce a similar effect if the contract permits it.
Match the schedule to income
A biweekly schedule can align with biweekly payroll, but two months each year will contain three payments. Ensure the account has enough cash on every debit date.
Estimates are for educational purposes and may differ from lender calculations, contractual terms, taxes, fees, or regulatory requirements. Read the full disclaimer.
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Methodology version: mortgage-methodology-2.0. See the editorial policy and corrections process.