For a 30-year home mortgage loan, if your monthly payment is $1,000 and you make payments every other week (bi-weekly) of $500, you end up paying a full payment extra each year. There are 52 weeks in a year. If you make a payment every other week, you make 26 payments of $500 which equals $13,000 compared to 12 monthly payments of $1,000 which equals $12,000. What is the affect on the overall length of the loan when you use this bi-weekly payment method? This was discussed in detail in the video lectures. Your loan is paid off in half the time. You pay more interest on the loan There is no change to the total length of the loan Your 30 year loan is typically paid in full 7 years early