Switch from monthly to biweekly payments and see how many years and dollars you save.
By paying half your monthly payment every two weeks, you make 26 half-payments per year — equivalent to 13 full monthly payments instead of 12. That one extra payment per year goes entirely to principal, dramatically reducing interest and loan term.
On a $300,000 loan at 6.5% for 30 years, switching to biweekly payments saves approximately $75,000 in interest and pays off the mortgage about 5 years early. All by making payments every 2 weeks instead of monthly.