Healthy Food Delivery : The Simple Loan Payment Trick That Could Save You Thousands in Interest

A mortgage payment is one of the largest, if not the largest, monthly expenses for most U.S. households. It’s become even more of a financial burden recently, with a 30 percent increase in homeowners behind on paying their mortgage in 2026 compared to 2025 and Google search inquiries skyrocketing for what to do if you can’t make your mortgage payment.

More homeowners are looking for alternative ways to cut down on these expenses, both in the short and long term. One popular strategy is to make weekly mortgage payments instead of monthly. The idea is simple: smaller, more frequent payments can feel easier to manage than one larger monthly payment.

Depending on the loan setup, it reduces the principal balance faster, dramatically cutting the total interest paid over the lifetime of the loan. But the actual benefits depend entirely on how the loan servicer handles those extra payments.

Learn how weekly payments work, where they can help, and what homeowners should ask their lender before changing their payment routine.

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How Weekly Loan Payments Can Help

Most mortgage repayment setups are based on 12 payments a year, sometimes on the first of the month or another default day. A weekly or biweekly payment strategy moves extra money toward the loan balance. And rather than making large lump sum payments or waiting until the end of the year or bonus time, this strategy allows households to more easily budget for it as a regular expense.

This is also beneficial for homeowners who budget weekly and/or are paid weekly,

“Making payments weekly equates to 1 extra monthly payment, resulting in 13 vs. 12 payments in a year,” says Adam Saab, EVP of Servicing at loanDepot. “Since interest is based on your principal balance, the amount charged will be less. Aside from the interest savings, the extra payments can reduce years off of a 30-year mortgage.”

Do Weekly Mortgage Payments Work For Everyone?

Weekly payments only work if the servicer applies them properly.

“Some mortgage servicers don’t have the technology to accept/apply weekly (or biweekly) payments, so the money is placed in a suspense account until a full contractual payment is received before being applied,” Saab says. “In these cases, the impact wouldn’t be as great.”

Extra paid toward the principal has a compounding effect since mortgage interest gets calculated from that balance, and a lower balance can reduce future interest charges. Extra mortgage payments need to go toward the principal, not prepaid interest, to have the biggest effect.

Extra payment calculators can help you understand just how much money you can save on your loan repayment.

Homeowners should also ask their loan provider about fees and prepayment penalties, according to Saab.

“Since some lenders don’t have the ability to process these types of transactions, some may limit the frequency of payments a homeowner is allowed to make,” Saab says. “You should contact your servicer to fully understand their ability/willingness to support.”

What To Ask Before Switching To Weekly Payments

Before changing a payment schedule, call your loan provider and find out the following:

Do they accept weekly or biweekly payments and are they applied immediately?
Will extra money go toward principal, not interest?
Are there fees for this payment setup or does the loan include any prepayment penalty?
Can the homeowner cancel or change the schedule later?

Alternatively, an extra principal payment annually instead of switching to weekly payments may feel simpler if the mortgage provider doesn’t support weekly or bi-weekly repayments.

About The Expert

Adam Saab is the Executive Vice President of Servicing at loanDepot. He has more than 25 years of experience in mortgage servicing and previously held leadership roles at CitiMortgage, PNC Bank, LoanCare, and Cenlar, where he oversaw large loan portfolios and servicing operations.