1 Based on a $200,000 mortgage at 7% interest on a fixed term amortized over 25 years with monthly payments of $1,400.83 and total interest of $220,454.01. Assumes same interest rate for entire amortization period. By making accelerated bi-weekly payments of $700.42 over 21 years, you can be mortgage free 4 years sooner and save over $47,000 in interest charges.