Assume you have a mortgage of $111,768.97 at 5% amortized for 30 years. The traditional monthly payments would be $600. The MORTGAGE2 PRO Calculator or any other financial calculator would calculate the “regular” biweekly payment to be $276.18 for the next 30 years and save you $578.19 in interest over the 30 years. The $276.92 biweekly payment (same yearly cash flow as the monthly payment) would save you $1,329.92 in interest over the next 29.82 years. The $300 biweekly payment, called the accelerated biweekly in Canada (the yearly cash flow of 13 monthly payments) would save you $19,943.40 over the next 25.14 years. The interest cost for the $300 biweekly mortgage is $84,287.63

Biweekly mortgages are rare in the USA. One can easily use the MORTGAGE2 PRO CALCULATOR to pick a monthly payment by trial and error and recalculate the amortization period until the Calculator interest is close to $84,287.63